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Chainlink's price is currently at $22.65, down 17% from its monthly high, but analysts remain optimistic about a potential rise to $100, citing strong technical patterns and significant partnerships with major organizations like Coinbase and Swift. A cup and handle pattern suggests a target of $40 before reaching $100, contingent on surpassing its all-time high of $52.90, while a drop below $8.4 could invalidate the bullish outlook.
The Swiss National Bank (SNB) is expected to cut its guide rate soon, with most analysts predicting a reduction to 0.75 percent. While some experts foresee a potential return to negative interest rates by the end of 2025, this would require significant economic downturns and inflation falling into negative territory, which currently seems unlikely.
Vontobel has appointed Marcel Räber as the new head of Private Clients for Central Switzerland, transitioning from his role at Luzerner Kantonalbank. He will officially assume his position on the 1st of the upcoming month.
Vontobel has appointed Marcel Räber as the new Head of Private Clients Central Switzerland, effective January 1, 2025. Räber, who has over 25 years of experience at Luzerner Kantonalbank, will oversee private client teams in Lucerne and drive expansion in the segment. He succeeds Andreas Weingartner, who will focus on his role as Senior Relationship Manager.
Evrard Bordier, CEO of Bordier Bank, critiques the merger of UBS and Credit Suisse, arguing it undermines competition in Switzerland"s financial sector. He believes that smaller banks can thrive by maintaining cost discipline and personalized service, despite industry pressures for consolidation. Bordier emphasizes the importance of family ownership and innovation, while also highlighting the bank"s strategic partnerships in Asia, particularly in Vietnam.
Chainlink has partnered with major financial institutions, including Franklin Templeton and UBS, to enhance data processing through AI and blockchain technology. This initiative aims to automate and standardize corporate data, potentially saving companies millions by reducing operational inefficiencies. By creating a "Unified Golden Record," stakeholders will gain near-instant access to accurate financial data, paving the way for transformative solutions in the fintech industry.
Vontobel reported a rise in assets under management to 227.6 billion francs by the end of September, driven by strong market performance and net new money inflows of 2.6 billion francs. While inflows from Private Clients remained robust at 3.1 billion francs, Institutional Clients experienced outflows of 0.5 billion francs, though these have slowed. The bank is on track with its cost-cutting program, aiming for a 100 million franc reduction by 2026, and continues to focus on organic growth and strategic acquisitions.
In August 2024, the wealth management sector saw significant leadership changes, including Ogier-Keltie as a senior listings analyst at the International Stock Exchange and appointments at NEBA Private Clients and Equiom. Notable moves included Sameer Deshpande as wealth management head at Emirates NBD in Singapore and Ashwin Jayaram at Julius Baer, alongside several key hires across Asia-Pacific firms.
Ivan Crosato, formerly a Managing Director at Credit Suisse, is set to join Vontobel as the Head of the Zurich market area in Wealth Management. His appointment introduces an additional hierarchical level, despite the bank's ongoing cost-cutting measures, which aim to save 100 million and may result in over 200 job cuts. Vontobel has not commented on the speculation surrounding these changes, with further details expected on November 7.
UBS reported a strong third-quarter profit of $1.43 billion, exceeding analysts' expectations of $740 million, despite a 4% drop in share price due to equity concerns and potential capital requirements. All business divisions contributed to higher revenues, with significant client activity and $24.7 billion in new money inflows. The integration of Credit Suisse is ahead of schedule, achieving $800 million in cost savings, with a target of $13 billion by 2026.
Vontobel Holding AG
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analysts predict chainlink price could reach 100 amid strong partnerships
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ubs faces capital uncertainty despite strong client business and share buyback plans
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