Germans are a Germanic ethnic group native to Central Europe, who share a common German ancestry, culture and history. German is the mother tongue of a substantial majority of ethnic Germans. The English term Germans has historically referred to the German-speaking population of the Holy Roman Empire since the Late Middle Ages, before the collapse of communism and the reunification of Germany in 1990, Germans constituted the largest divided nation in Europe by far. Ever since the outbreak of the Protestant Reformation within the Holy Roman Empire, of approximately 100 million native speakers of German in the world, roughly 80 million consider themselves Germans. Thus, the number of Germans lies somewhere between 100 and more than 150 million, depending on the criteria applied. Today, people from countries with German-speaking majorities most often subscribe to their own national identities, the German term Deutsche originates from the Old High German word diutisc, referring to the Germanic language of the people. It is not clear how commonly, if at all, the word was used as an ethnonym in Old High German, used as a noun, ein diutscher in the sense of a German emerges in Middle High German, attested from the second half of the 12th century. The Old French term alemans is taken from the name of the Alamanni and it was loaned into Middle English as almains in the early 14th century. The word Dutch is attested in English from the 14th century, denoting continental West Germanic dialects, while in most Romance languages the Germans have been named from the Alamanni, the Old Norse, Finnish and Estonian names for the Germans were taken from that of the Saxons. In Slavic languages, the Germans were given the name of němьci, originally with a meaning foreigner, the English term Germans is only attested from the mid-16th century, based on the classical Latin term Germani used by Julius Caesar and later Tacitus. It gradually replaced Dutch and Almains, the latter becoming mostly obsolete by the early 18th century, the Germans are a Germanic people, who as an ethnicity emerged during the Middle Ages. Originally part of the Holy Roman Empire, around 300 independent German states emerged during its decline after the Peace of Westphalia in 1648 ending the Thirty Years War and these states eventually formed into modern Germany in the 19th century. The concept of a German ethnicity is linked to Germanic tribes of antiquity in central Europe, the early Germans originated on the North German Plain as well as southern Scandinavia. By the 2nd century BC, the number of Germans was significantly increasing and they began expanding into eastern Europe, during antiquity these Germanic tribes remained separate from each other and did not have writing systems at that time. In the European Iron Age the area that is now Germany was divided into the La Tène horizon in Southern Germany and the Jastorf culture in Northern Germany. By 55 BC, the Germans had reached the Danube river and had either assimilated or otherwise driven out the Celts who had lived there, and had spread west into what is now Belgium and France. Conflict between the Germanic tribes and the forces of Rome under Julius Caesar forced major Germanic tribes to retreat to the east bank of the Rhine, in Roman-held territories with Germanic populations, the Germanic and Roman peoples intermarried, and Roman, Germanic, and Christian traditions intermingled. The adoption of Christianity would later become an influence in the development of a common German identity
Credit Suisse Group is a Swiss multinational financial services holding company, headquartered in Zürich, that operates the Credit Suisse Bank and other financial services investments. Credit Suisse was founded by Alfred Escher in 1856 under the name Schweizerische Kreditanstalt in order to fund the development of Switzerlands rail system and it issued loans that helped create Switzerlands electrical grid and the European rail system. It also helped develop the countrys currency system and funded entrepreneurship, in the 1900s Credit Suisse began shifting to retail banking in response to the elevation of the middle-class and the growing popularity of savings accounts. Credit Suisse partnered with First Boston in 1978, after a large failed loan put First Boston under financial stress, Credit Suisse bought a controlling share of the bank in 1988. In the 1990s, Credit Suisse acquired the Winterthur Group, Swiss Volksbank, Swiss American Securities Inc. in the year 2000, it added the U. S. investment firm Donaldson, Lufkin & Jenrette. The company restructured itself in 2002,2004 and 2006 and it was one of the least affected banks during the global financial crisis, but afterwards began shrinking its investment business, executing layoffs and cutting costs. During the period between 2008 and 2012, Germany, Brazil, and the United States began a series of investigations into the use of Credit Suisse accounts for tax evasion. In May 2014, the company pleaded guilty to decades of conspiring to help US citizens avoid taxes, in 2014, Credit Suisse had 888.2 USD Bn of assets under management according to the Scorpio Partnership. Credit Suisse Group AG is organized as a company registered in Zürich that operates as a holding company. It owns the Credit Suisse bank and other interests in the services business. Credit Suisse is governed by a board of directors, its shareholders, the Board of Directors organize the Annual General Meeting of Shareholders while investors with large stakes in the company determine the agenda. Shareholders elect auditors for one-year terms, approve the report and other financial statements. The Board sets Credit Suisses business strategies and approves its compensation principles based on guidance from the compensation committee and it also has the authority to create committees that delegate specific management functions. Credit Suisse has two divisions, Private Banking & Wealth Management and Investment Banking, a Shared Services department provides support functions like risk management, legal, IT and marketing to all areas. Operations are divided into four regions, Switzerland, Europe, the Middle East and Africa, the Americas, Credit Suisse Private Banking has wealth management, corporate and institutional businesses. Credit Suisse Investment Banking handles securities, investment research, trading, prime brokerage, Credit Suisse Asset Management sells investment classes, alternative investments, real-estate, equities, fixed income products and other financial products. Escher founded Credit Suisse in 1856 primarily to provide funding to railway projects. Escher aimed to start the company with three million shares and instead sold 218 million shares in three days, in its first year of operation,25 percent of the banks revenues was from the Swiss Northeastern Railway, which was being built by Eschers company, Nordostbahn
An apprenticeship is a system of training a new generation of practitioners of a trade or profession with on-the-job training and often some accompanying study. Apprenticeship also enables practitioners to gain a license to practice in a regulated profession, Apprenticeships typically last 3 to 7 years. People who successfully complete an apprenticeship reach the journeyman or professional level of competence. In early modern usage, the clipped form prentice was common, the system of apprenticeship first developed in the later Middle Ages and came to be supervised by craft guilds and town governments. A master craftsman was entitled to employ young people as a form of labour in exchange for providing food, lodging. Most apprentices were males, but female apprentices were found in such as seamstress, tailor. Apprentices usually began at ten to fifteen years of age, in Coventry those completing seven-year apprenticeships with stuff merchants were entitled to become freemen of the city. Subsequently, governmental regulation and the licensing of technical colleges and vocational education formalized and bureaucratized the details of apprenticeship, Australian Apprenticeships encompass all apprenticeships and traineeships. They cover all sectors in Australia and are used to achieve both entry-level and career upskilling objectives. There were 470,000 Australian Apprentices in-training as at 31 March 2012, Australian Government employer and employee incentives may be applicable, while State and Territory Governments may provide public funding support for the training element of the initiative. Australian Apprenticeships combine time at work with formal training and can be full-time, part-time or school-based, Australian Apprentice and Traineeship services are dedicated to promoting retention, therefore much effort is made to match applicants with the right apprenticeship or traineeship. This is done with the aid of aptitude tests, tips, information and resources on potential apprenticeship and traineeship occupations are available in over sixty industries. The distinction between the terms apprentices and trainees lies mainly around traditional trades and the time it takes to gain a qualification, Australia also has a fairly unusual safety net in place for businesses and Australian Apprentices with its Group Training scheme. It is a safety net, because the Group Training Organisation is the employer and provides continuity of employment and it lasts two to four years – the duration varies among the 250 legally recognized apprenticeship trades. About 40 percent of all Austrian teenagers enter apprenticeship training upon completion of compulsory education and this number has been stable since the 1950s. The five most popular trades are, Retail Salesperson, Clerk, Car Mechanic, Hairdresser, there are many smaller trades with small numbers of apprentices, like EDV-Systemtechniker which is completed by fewer than 100 people a year. The Apprenticeship Leave Certificate provides the apprentice with access to two different vocational careers, the person responsible for overseeing the training inside the company is called Lehrherr or Ausbilder. An Ausbilder must prove he has the qualifications needed to educate another person
Deutsche Bank AG is a German global banking and financial services company with its headquarters in the Deutsche Bank Twin Towers in Frankfurt. It has more than 100,000 employees in over 70 countries, and has a presence in Europe, the Americas, Asia-Pacific. In 2009, Deutsche Bank was the largest foreign exchange dealer in the world with a share of 21 percent. The company was a component of the STOXX Europe 50 stock market index until being replaced on that index on August 8,2016, the bank offers financial products and services for corporate and institutional clients along with private and business clients. Deutsche Bank’s core business is investment banking, which represents 50% of equity, 75% of leverage assets, in January 2014, Deutsche Bank reported a €1.2 billion pre-tax loss for the fourth quarter of 2013. This came after analysts had predicted a profit of nearly €600 million, revenues slipped by 16% versus the prior year. On 7 June 2015, the then co-CEOs, Juergen Fitschen and Anshu Jain, Anshu Jains resignation took effect on 30 June 2015, but he provided consultancy to the bank until January 2016. Juergen Fitschen temporarily continued as joint CEO until 19 May 2016, the appointment of John Cryan as joint CEO was announced, effective 1 July 2016, he became sole CEO at the end of Juergen Fitschens term. In January 2016, Deutsche Bank pre-announced a 2015 loss before income taxes of approximately €6.1 billion, Deutsche Bank was founded in Berlin in 1870 as a specialist bank for foreign trade. The banks statute was adopted on 22 January 1870, and on 10 March 1870 the Prussian government granted it a banking licence, three of the founders were Georg Siemens whose fathers cousin had founded Siemens and Halske, Adelbert Delbrück and L. Bamberger. Its first foray overseas came shortly afterwards, in Shanghai and London followed sometime by South America, major projects in the early years of the bank included the Northern Pacific Railroad in the US and the Baghdad Railway. In Germany, the bank was instrumental in the financing of bond offerings of steel company Krupp, the second half of the 1890s saw the beginning of a new period of expansion at Deutsche Bank. The bank formed alliances with large banks, giving itself an entrée into Germanys main industrial regions. Joint ventures were symptomatic of the then under way in the German banking industry. In addition, the bank rapidly perceived the value of specialist institutions for the promotion of foreign business, the immediate postwar period was a time of liquidations. Having already lost most of its assets, Deutsche Bank was obliged to sell other holdings. A great deal of energy went into shoring up what had been achieved, but there was new business, too, some of which was to have an impact for a long time to come. The bank played a significant role in the establishment of the production company, UFA
AXA Winterthur is a multinational insurance company. The original company named Winterthur was founded in Winterthur, Switzerland, from 1997 to June 2006, Winterthur was a Credit Suisse subsidiary. Now, Paris-based AXA Insurance has entered into an agreement to purchase Winterthur group from CS for approximately CHF12 billion. From 2007 onward, AXA will be merging the companies, due to the takeover, AXA Insurance will take over the brand name and general supervision of the company. Logo changes started to appear in Barcelona during January 2007, Winterthur has subsidiaries in Germany, the United Kingdom, Belgium, the Netherlands, Hungary, Poland, the Czech Republic, the United States, Slovakia, Japan, Taiwan, Hong Kong, and Luxembourg. In addition, it has subsidiaries in Spain, although AXA are based in Madrid, AXA Winterthur XING Linkedin YouTube Slideshare Flickr AXA Group
UBS AG is a Swiss global financial services company, incorporated in the Canton of Zurich, and co-headquartered in Zürich and Basel. In Switzerland, these services are offered to retail clients. The name UBS was originally an abbreviation for the Union Bank of Switzerland, the company traces its origins to 1856, when the earliest of its predecessor banks was founded. UBS has over CHF2.2 trillion in invested assets and its assets under management amounted in 2014 to US$1,966.9 billion, representing a 15. 4% increase in AuM compared to the equivalent data of 2013. It is the biggest bank in Switzerland, operating in more than 50 countries with about 60,000 employees around the world, as of 2014. In comparison to other European banks, UBS suffered among the largest losses during the mortgage crisis. The bank received a US$9.7 billion capital injection in 2007 from the Government of Singapore Investment Corporation, UBS also received capital from the Swiss government, further complemented by a series of equity offerings in 2007,2008, and 2009. UBS is a joint-stock company pursuant to Swiss laws and its shares are listed at the SIX Swiss Exchange, and the New York Stock Exchange. As of February 2015, UBS is present in all major financial centers worldwide, having offices in more than 50 countries, with about 35% of its approx. 60,000 employees working in the Americas, 36% in Switzerland, 17% in Europe, the bank has its major presence in the United States. The companys global business groups are wealth management, investment banking, additionally, UBS is the leading provider of retail banking and commercial banking services in Switzerland, as established already in 2009. Overall invested assets are CHF2.689 trillion, shareholders equity is CHF55.313 billion, in November 2014, the shares in UBS Group AG were listed and started trading as a new holding company on the NYSE and SIX Swiss Exchange. Upon application and with the effect as of 14 January 2015, the shares of the USB AG, Corporate Center focuses on the Group’s control functions, which are mainly finance, risk control and legal. All logistics and support services are located with this division and include operations, information technology, human resources, communications, physical security. UBSs wealth management division offers high-net-worth individuals around the world a range of advisory and investment products, as of the end of 2014, UBS Wealth Managements invested assets totaled CHF947 billion. More than 60% of total invested assets in UBS Wealth Management belong to individuals with a net-worth of CHF10 million or more, UBS offers brokerage services and products as well as asset management and other investment advisory and portfolio management products and services. The business is divided geographically with separate businesses focused on the U. S. Two-thirds of the total invested assets come from Europe and Switzerland with the final one-third coming mainly from the Asia-Pacific region, with its headquarters in Switzerland, UBS Wealth Management is present in nearly 50 countries with approximately 230 offices
Union Bank of Switzerland
Union Bank of Switzerland was a large integrated financial services company located in Switzerland. UBS was formed in 1912 through the merger of the Bank in Winterthur and Toggenburger Bank, the historical UBS logo features a horizontal acronym UBS referring to the Union Bank of Switzerland, Union de Banques Suisses or Unione di Banche Svizzere. The vertical acronym SBG refers to the name of the bank in German Schweizerische Bankgesellschaft, UBS ceased to be considered a representational abbreviation for the Union Bank of Switzerland after the banks 1998 merger with Swiss Bank Corporation and is today considered a standalone brand. By the 1980s, the bank had undertaken a major push into the business internationally. The bank also made two acquisitions in 1986, first it purchased Phillips & Drew an established British brokerage and asset management firm. However, UBS initially had issues integrating Phillips & Drew, the firm lost £15 million when a rush of orders overwhelmed the firm’s settlement system in 1987. Then the bank lost £48 million as a result of Philips & Drew positions in the October 1987 stock market crash, between April 1987 and February 1988, UBS was required to spend as much as £115 million to shore up Phillips & Drew. Phillips & Drew unit returned to profitability in 1992 after years of losses, UBS also expanded into West Germany, acquiring Deutsche Länderbank in 1986. In 1991, UBS made its first acquisition in the United States, purchasing Chase Investors Management Corporation, Chase Investors, which was established in 1972, was subsequently folded into UBS Asset Management after the acquisition. UBS also entered the insurance business in 1993 establishing UBS Life. UBS formed a joint venture with Swiss Life in 1995, known as UBS Swiss Life, UBS took a 25% ownership position in Swiss Life in exchange for a 50% share in the joint venture. UBS entered the 1990s clearly the largest and most conservative of the three large Swiss Banks, in 1993, Credit Suisse outbid UBS for Switzerlands Swiss Volksbank, the fifth largest bank in Switzerland which had run into financial difficulties in the early 1990s. The acquisition propelled Credit Suisse ahead of UBS as the largest bank in Switzerland for the first time, UBS instead settled on a group of less audacious acquisitions, purchasing a group of smaller banks in Switzerland in 1994 and then acquiring the Cantonal Bank of Appenzell-Ausserrhoden in 1996. Schröder Münchmeyer Hengst was formed through the 1969 merger of three German banks, Schroeder Brothers & Co, muenchmeyer & Co. and Frederick Hengst & Co. During the mid-1990s, UBS came under fire from dissident shareholders, critical of banks relatively conservative management, martin Ebner, through his investment trust, BK Vision became the largest shareholder in UBS and attempted to force a major restructuring of the bank’s operations. The battles between Ebner and UBS management proved a distraction to the bank in the mid-1990s, looking to take advantage of the situation, Credit Suisse approached UBS about a merger that would have created the second largest bank in the world in 1996. UBSs management and board unanimously rebuffed the proposed merger, Ebner, who supported the idea of a merger, led a major shareholder revolt that resulted in the replacement of UBSs chairman, Robert Studer. Studers successor Mathis Cabiallavetta would be one of the key architects of the merger with Swiss Bank Corporation, on 8 December 1997, Union Bank of Switzerland and Swiss Bank Corporation announced an all-stock merger
William Philip Phil Gramm is an American economist and politician, who has served as a Democratic Congressman, a Republican Congressman and a Republican Senator from Texas. He later became a lobbyist for UBS and founded a public policy and lobbying firm and he was a senior economic adviser to John McCains presidential campaign from the summer of 2007 until July 18,2008. Gramm was born on July 8,1942 in Fort Benning, Georgia, soon after his birth, Gramms father, Kenneth Marsh Gramm, suffered a stroke and was partially paralyzed. He died when Gramm was 14, Gramms mother, Florence, worked double shifts as a nurse to supplement the veterans disability pension. Gramm attended public schools, graduated in 1961 from Georgia Military Academy and he received a doctorate in economics from the University of Georgias Terry College of Business in 1967 He then taught economics at Texas A&M University from 1967 to 1978. In addition to teaching, Gramm founded the consulting firm Gramm & Associates. In 1976, Gramm unsuccessfully challenged Texas Democratic Senator Lloyd Bentsen, then in 1978 Gramm successfully ran as a Democrat for Representative from Texass 6th congressional district, which stretched from the Fort Worth suburbs to College Station. He was reelected to his House seat as a Democrat in 1980, Gramms voting record was very conservative, even by Texas Democratic standards of the time. Just days after being reelected in 1982, Gramm was thrown off the House Budget Committee, in response, Gramm resigned his House seat on January 5,1983. He then ran as a Republican for his own vacancy in an election held on February 12,1983. Representative for the 11th and the 17th congressional districts of Texas, another special election opponent was Texas State Representative Dan Kubiak of Rockdale, Texas. Gramm became the first Republican to represent the district since its creation in 1846, after he left the House, the seat was retained for the Republican party by Joe Barton. In 1984, Gramm was elected as a Republican to represent Texas in the U. S. Senate and he defeated Congressman Ron Paul, former gubernatorial nominee Henry Grover, Robert Mosbacher, Jr. of Houston, and several of other contenders in the primary. He then faced the Democratic nominee, State Senator Lloyd Doggett of Austin in the election for the right to succeed retiring Republican Senator John G. Tower. Gramm polled 3,116,348 votes to Doggetts 2,207,557, Gramm was the first U. S. Senate candidate in the history of Texas to receive more than three million votes. Gramm served on the Senate Budget Committee from 1989 until leaving office in 2003, Gramm and Senators Fritz Hollings and Warren Rudman devised a means of cutting the budget through across-the-board spending cuts if deficit-reduction targets were not met. They were successful in making the Gramm–Rudman–Hollings Act law, although portions were ruled unconstitutional, in the years following the passage of the Act, other sections were largely superseded by other budget-controlling mechanisms. In 1990, Gramm failed in an effort to amend the Iraq International Law Compliance Act of 1990, after reading the DAmato Amendment, Gramm introduced his own amendment to counter the human rights sanctions in the DAmato Amendment
Kidder, Peabody & Co.
Kidder, Peabody & Co. was an American securities firm, established in Massachusetts in 1865. Its operations included investment banking, brokerage, and trading, the Firm was sold to General Electric in 1986. Following heavy losses, it was sold to PaineWebber in 1994. After the acquisition by PaineWebber, the Kidder Peabody name was dropped, in November 2000, PaineWebber itself was merged with UBS AG. Kidder, Peabody & Co. was established in April 1865 by Henry P. Kidder, Francis H. Peabody, the firm was formed via reorganization of its predecessor company, J. E. Thayer & Brother, where the three founders had previously worked as clerks, Kidder, Peabody acted as a commercial bank, investment bank, and merchant bank. The firm had an active business, dealing in treasury bonds and municipal bonds, as well as corporate bonds. Kidder Peabody also actively traded and invested in securities for its own account, in the aftermath of the 1929 stock market crash, Kidder Peabody was in a perilous situation. In 1931, Albert H. Gordon bought the firm with financial backing from Stone & Webster. Since electric utilities were considered risky, Stone & Webster set up its own investment banking operation to finance their own projects through bond sales. Many of the utilities were owned and Stone & Websters investment banking unit served them in other offerings. Eventually, as investment banking clients were engineering clients, there was an incentive to divest. Gordon helped rebuild Kidder Peabody by focusing on niche markets including utility finance. Stone & Webster had thus become a company which designed utility projects, built them, financed them. This move likely contributed to preventing a major crisis in Lebanon from worsening. Gordon served as Kidders chairman until selling it to General Electric in 1986. Soon after the GE purchase, a skein of insider trading scandals, Siegel also implicated Richard Wigton, Kidders chief arbitrageur. Wigton was the only executive handcuffed in his office as part of the trading scandal, in response, GE fired Kidder chairman Ralph DeNunzio and two other senior executives and stopped trading for its own account
AXA is a French multinational insurance firm headquartered in the 8th arrondissement of Paris that engages in global insurance, investment management, and other financial services. AXA joined the top 3 global financial services brands in 2016, the AXA Group operates primarily in Western Europe, North America, the Asia Pacific region, and the Middle East, with presence also in Africa. AXA is a conglomerate of independently run businesses, operated according to the laws, the company is a component of the Euro Stoxx 50 stock market index. According to a 2011 paper by Vitali et al, the company was founded in 1816 as Mutuelle de Lassurance contre Lincendie. It acquired Compagnie Parisienne de Garantie in 1978 and became Mutuelles Unies and it went on to buy the Drouot Group in 1982, becoming Mutuelles Unies/Drouot. It adopted the AXA name in 1985, the takeover of the American insurance company The Equitable, came in 1991. It bought Union des Assurances De Paris, Frances largest insurer, then in February 1999 AXA acquired Guardian Royal Exchange. In May 2000 AXA acquired all shares it did not already own in Sun Life & Provincial Holdings, on 14 June 2006 AXA acquired the leading Swiss insurance company Winterthur Group from Credit Suisse for approximately €9 billion. During May 2016 it announced it was to stop investing in shares and bonds. Despite being written in case, AXA is not an acronym. After acquiring the Drouot Group in 1982, Chairman and CEO Claude Bébéar hired a consultant to conduct a computer-aided search for a new name. Bébéar wanted a short and snappy name to convey vitality and could be pronounced the same way in every language, initially, Elan was the top choice, but Canadian executives balked because elan is the French word for a moose or elk. In 1985, Bébéar chose the name AXA, AXA trades in the United Kingdom as AXA UK using a number of subsidiaries such as AXA Sun Life, AXA Insurance, AXA Investment Managers, AXA Wealth and AXA PPP Healthcare. AXA PPP Healthcare was created when AXA bought Guardian Royal Exchange, the company also owns the online insurer Swiftcover, distribution business Bluefin and fund manager Architas. In January 2007 AXA was reorganised into strategic business units aimed at competing within their specific markets, in September 2013, AXA Wealth was fined £1. 8m by the FCA for failing to ensure it gave suitable investment advice to its customers. The regulator says it found “serious defects” in the way AXA advisers in Clydesdale Bank, Yorkshire Bank, AXA run its investment branch through AXA Investment Managers. AXA Sun Life was created following the merger between AXA Equity & Law and Sun Life Assurance Society PLC, in 2006 Winterthur Life in the UK was absorbed although AXA continue to use the Winterthur brand for high-net-worth wealth management business. The business units are, AXA Wealth – This includes AXA + Winterthurs Bonds + Individual Pensions, AXA Distribution Services who offer the Elevate wrap platform, Corporate Business – AXA + Winterthurs Group Pensions
White Weld & Co.
White, Weld & Co. is a privately held global financial services firm engaged in asset management, investment advisory, investment banking and other capital market activities. Relaunched in 2012, the business is headquartered in Chicago, previously, White, Weld & Co. was a Boston-based investment bank, historically managed by Boston Brahmins until its sale to Merrill Lynch in 1978. The Weld family name can be traced back to the founding of Massachusetts in the 1630s, White, Weld & Co. was founded in Boston in the nineteenth century, originally to finance overseas trade. In 1929 it managed Airstocks, a short-lived venture but important because it was an early financial concern exclusively pertaining to airlines and it developed into a small, well-connected New York investment bank by the twentieth century and a bastion of the WASP establishment. For example, George Herbert Walker, Jr. uncle of the first President Bush, became an executive of White, Charles J. Fuhrmann II, Paul Hallingby, Steve Hammerman, Harold Janeway, Charles C. Lee, Roberts W. Brokaw III, Nigel S. MacEwan and George G. Montgomery, as stock markets became more retail-oriented and investment banking became more capital intensive, the firm decided it could not compete and put itself up for sale. One of the firms most prominent transactions in its period was the IPO of Walmart in 1970 with Stephens Inc. Sir John Craven, later head of Morgan Grenfell, led Credit Suisse White Weld from 1975 to 1978, furthermore, Oswald Gruebel, Credit Suisse chief from 2004 to 2007, began his career in 1970 at Credit Suisse White Weld. When White Weld was purchased by Merrill Lynch, it left the partnership with Credit Suisse and was replaced by First Boston thus creating the Credit Suisse First Boston business in London, the Swiss private banking division of White Weld, founded in 1954 as White Weld & Co. AG, lives on as Clariden Bank
Sergio P. Ermotti is a Swiss banker from Lugano, Switzerland. He is Group CEO of UBS since November 2011, having held the position of Group Chief Executive Officer on a basis since September 2011. In 2014, following the process of the UBS AG. Sergio P. Ermotti was born on 11 May 1960 and he left school at age 15, deciding to follow in the footsteps of his father, he began his career as a young apprentice at the Cornèr Bank in Lugano. As an apprentice, Ermotti learned to sell stocks and trade them, as of April 2014 Ermotti was married with two children. Ermotti holds a Swiss federal banking expert diploma and is a graduate of the Advanced Management Program at Oxford University, after his apprenticeship as a stockbroker at the Cornèr Bank, Ermotti was later promoted to trading. Ermotti earned a diploma as a Swiss federal banking certified expert, in 1985, Ermotti moved to Citibank where he traded equity-linked products and later served as its Resident Vice President. He later went on to Merrill Lynch in 1987 and stayed there for 16 years, holding positions in equity derivatives. He joined UniCredit in December 2005 as Head of Markets & Investment Banking, from 2007 to 2010, he was UniCredit’s Deputy Chief Executive Officer with responsibility for the strategic business area, Corporate and Investment Banking and Private Banking. He was appointed interim Group CEO of UBS beginning in 24 September 2011 before being given this post permanently on 15 November 2011, because of his new responsibility as CEO, he resigned from his position as president of Darwin Airline in 2011. Sergio Ermotti was a member of the Board at the London Stock Exchange between September 2008 and July 2013