Peter Thorne

Swiss Tax Treaty May Benefit German Wealth Managers, Edison Says

German wealth managers may benefit from a withholding tax deal with Switzerland as affluent Germans repatriate funds from the Alpine country, according to Edison Investment Research.

Ermotti Inherits Task of Shrinking UBS While Keeping Clients After Gruebel

Sergio Ermotti, installed as UBS AG’s interim Chief Executive Officer after Oswald Gruebel’s exit, inherits the twin tasks of boosting client confidence and shrinking the investment bank after a $2.3 billion trading loss.

Credit Suisse to Pay 150 Million Euros in Prosecutor Deal

Credit Suisse Group AG, Switzerland’s second-largest bank, said it reached an agreement with the Public Prosecutor’s Office in Dusseldorf, Germany, to end court proceedings against employees.

UBS Chief Executive Gruebel Resigns After $2.3 Billion Loss

UBS AG, Switzerland’s largest bank, named an interim chief executive officer after Oswald Gruebel resigned the post in the wake of a $2.3 billion loss from unauthorized trading.

U.K., Swiss to Discuss Tax on Offshore Bank Accounts

The U.K. and Germany plan to negotiate withholding taxes with Switzerland that will raise revenue from offshore Swiss bank accounts while keeping client identities secret.

UBS Gains as Analysts Say Gruebel Exit to Speed Investment Bank Shrinkage

UBS AG climbed in Zurich trading amid analyst speculation that Oswald Gruebel’s resignation as chief executive officer removes an obstacle to shrinking its investment-banking business.

Deutsche Bank Investment Banking Profit Rises on Trading Revenue

Deutsche Bank AG , Germany’s biggest bank, said higher revenue from fixed-income and equities trading lifted fourth-quarter earnings at its investment bank.

Bankers Challenging Rules in Vienna Find an Ally in Sovereign Debt Crisis

Deutsche Bank AG Chief Executive Officer Josef Ackermann and HSBC Holdings Plc Chairman Stephen Green are among bankers with a new ally in their tug of war with politicians over stricter rules: Europe’s sovereign-debt crisis.

Hot Cayman Address, 10 Needy Banks, UBS: Compliance

Seagate Technology, the world’s largest maker of hard disk drives, is based in Scotts Valley, California. Yet the documents it files with the Securities and Exchange Commission list its address on South Church Street in George Town, the capital of the Cayman Islands, David Evans of Bloomberg News reports.

Swiss Stocks Retreat as Euro Debt, Korea Send Banks Tumbling

Swiss stocks plunged, falling the most in four months, as North Korea fired artillery shells into South Korea and concern continued that Europe’s sovereign-debt crisis will spread to Portugal and Spain.

"It would make sense for Julius Baer to buy Sarasin."

- Peter Thorne on Oct 13, 2011

Switzerland

Germany

London

Europe

Citigroup Facing $7 Billion Hit on Dollar Gain, Peabody Says

Stocks Fall With Commodities While Yen Rallies on BOJ

Jim O’Neill Says Get Used to U.S. Yields Nearer 4% Than 2%

U.S. Stocks Decline as BOJ Leaves Stimulus Unchanged

Sony Unveils PlayStation 4 Console Taking on Microsoft