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UBS is selling its Indian wealth business to 360 ONE WAM for 3.07 billion rupees ($36 million) while acquiring a nearly 5% stake in the asset manager. This move aims to streamline UBS's operations in India, focusing on investment banking and equity capital markets, as competition with local players intensifies. The partnership will enhance wealth management solutions for clients of both firms.
Alexis Kohler, President Emmanuel Macron's chief of staff since 2017, has been appointed executive vice president of Societe Generale, effective June 2025. He will oversee M&A, equity capital markets, and acquisition finance, while assisting CEO Slawomir Krupa with transformation initiatives. Kohler, known as Macron's closest adviser, previously faced a conflict of interest investigation that was dropped in 2019 due to a lack of evidence.
Societe Generale has appointed Alexis Kohler as executive vice president, effective June 2025. Kohler, who previously served as General Secretary of the Presidency of the French Republic, will oversee M&A, Equity Capital Markets, and Acquisition Finance, while supporting CEO Slawomir Krupa in transformation initiatives within the bank.
Societe Generale has appointed Alexis Kohler as executive vice president, effective June 2025. Kohler, who previously served as General Secretary of the Presidency of the French Republic, will oversee M&A, Equity Capital Markets, and Acquisition Finance, while supporting CEO Slawomir Krupa in transformation initiatives.
UBS Group reported a third-quarter net profit of $1.4 billion, nearly double analysts' expectations of $740 million, driven by increased revenue of $12.3 billion and effective cost reductions. The bank successfully completed the first wave of client migrations from Credit Suisse, with further integrations planned for Singapore and Japan by year-end. Despite strong results, UBS faces uncertainties from new regulatory demands and geopolitical tensions affecting market conditions.
HSBC reported a third-quarter profit of $8.5 billion, exceeding estimates of $7.6 billion, driven by increased wealth and wholesale banking revenue. The bank announced a $3 billion share buyback, adding to a previous $6 billion plan, while unveiling a major restructuring under new CEO Georges Elhedery aimed at improving efficiency. Analysts are keen to learn more about the financial implications of this overhaul in upcoming disclosures.
Himani Sarkar
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ubs sells indian wealth business to 360 one in strategic shift
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