Tidjane Thiam’s tenure at the top of Credit Suisse (CS) has hardly been a picnic. Big lawsuits, struggling business units and a difficult overhaul has left the stock well below where he inherited it despite strong gains this year. The company is only two years into its grand ‘3 year plan’ which entails cutting costs, reducing the size… Read More »
E.ON(EONGY), German’s largest utility, is facing calls from activist investor Knight Vinke to spin out its power distribution business. This comes just months after the €4 billion demerger of its conventional power generation and commodity trading units into Uniper(UN01.DE). Knight Vinke, a European activist fund best known for its campaigns against UBS and Darty, was supportive of the… Read More »
With new regulations, capital requirements, lawsuits and scandals popping up, it is no surprise that the big banks have been doing some soul searching. ‘Derisking’ has become in vogue (or mandatory) and in response units have been shed and trading desks cut. Mediobanca analyst Chris Wheeler thinks UBS (UBS) might have something much bigger in the works though… Read More »