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Union Bank Of Switzerland

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BUSINESS
June 9, 1998 | From Reuters
The Federal Reserve Board on Monday gave its OK to a merger of Union Bank of Switzerland and Swiss Bank Corp., the final hurdle remaining for the merger, expected to be completed this month. The combined entity would be the world's second-largest bank. The Fed has jurisdiction over all foreign bank operations in the United States. Its decision approves the U.S. operations that will result from the Swiss banks' merger.
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BUSINESS
June 9, 1998 | From Reuters
The Federal Reserve Board on Monday gave its OK to a merger of Union Bank of Switzerland and Swiss Bank Corp., the final hurdle remaining for the merger, expected to be completed this month. The combined entity would be the world's second-largest bank. The Fed has jurisdiction over all foreign bank operations in the United States. Its decision approves the U.S. operations that will result from the Swiss banks' merger.
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BUSINESS
August 21, 1989 | DOUGLAS FRANTZ, Times Staff Writer
Three banks in Los Angeles were used as part of an international network that laundered millions of dollars in illegal proceeds from penny stock schemes, according to recently unsealed federal court documents. Branches of Security Pacific National Bank, First Interstate Bank and Union Bank of Switzerland here were identified in the documents as playing unwitting roles in the sophisticated laundering operation.
BUSINESS
April 12, 1996 | From Times Wire Services
Switzerland's largest bank rejected Thursday a proposal by its nearest rival to form the world's second-largest bank, saying a merger would have strained it financially and drawn serious political opposition. The board of Union Bank of Switzerland decided unanimously against pursuing a combination with No. 2 CS Holding, the parent of Credit Suisse and CS First Boston Group Inc.
BUSINESS
April 12, 1996 | From Times Wire Services
Switzerland's largest bank rejected Thursday a proposal by its nearest rival to form the world's second-largest bank, saying a merger would have strained it financially and drawn serious political opposition. The board of Union Bank of Switzerland decided unanimously against pursuing a combination with No. 2 CS Holding, the parent of Credit Suisse and CS First Boston Group Inc.
BUSINESS
April 10, 1996 | From Associated Press
Switzerland's two biggest banks--Union Bank and CS Holding--said Tuesday they are weighing a merger that would create another worldwide banking behemoth. The board of No. 1 Union Bank of Switzerland will decide this week whether to pursue the pitch from CS Holding. A combination of the two worldwide banking companies would create a global force in securities and banking.
BUSINESS
September 4, 1991 | SCOT J. PALTROW, TIMES STAFF WRITER
In the latest surprise to hit the U.S. government securities market, Sanwa Bank Ltd. said Tuesday that it replaced three top officials at its New York bond trading subsidiary. Coming amid a widening federal investigation of dealings in the Treasury market, the abrupt move prompted intense speculation on Wall Street that the changes might be linked to the inquiries.
BUSINESS
June 26, 1995 | Times Staff and Wire Reports
Foreign Brokerage Branches OKd: The South Korean government said it will approve the applications of five foreign brokerages to establish branches in Seoul. The Ministry of Finance and Economy said the five are Morgan Stanley International Ltd., CS First Boston, Credit Lyonnais Securities (Switzerland), Union Bank of Switzerland and Yamaichi Securities of Japan.
NEWS
March 26, 1990 | Reuters
Four armed men escaped with $23 million Sunday in Switzerland's biggest bank robbery, police said. The robbers burst into the Union Bank of Switzerland's branch in central Geneva and tied up two guards, a porter and a maintenance worker. They seized keys from the guards and rifled 10 foreign currency department safes holding notes weighing 440 pounds. No customer safes were broken into.
BUSINESS
April 10, 1996 | From Associated Press
Switzerland's two biggest banks--Union Bank and CS Holding--said Tuesday they are weighing a merger that would create another worldwide banking behemoth. The board of No. 1 Union Bank of Switzerland will decide this week whether to pursue the pitch from CS Holding. A combination of the two worldwide banking companies would create a global force in securities and banking.
BUSINESS
September 4, 1991 | SCOT J. PALTROW, TIMES STAFF WRITER
In the latest surprise to hit the U.S. government securities market, Sanwa Bank Ltd. said Tuesday that it replaced three top officials at its New York bond trading subsidiary. Coming amid a widening federal investigation of dealings in the Treasury market, the abrupt move prompted intense speculation on Wall Street that the changes might be linked to the inquiries.
BUSINESS
August 21, 1989 | DOUGLAS FRANTZ, Times Staff Writer
Three banks in Los Angeles were used as part of an international network that laundered millions of dollars in illegal proceeds from penny stock schemes, according to recently unsealed federal court documents. Branches of Security Pacific National Bank, First Interstate Bank and Union Bank of Switzerland here were identified in the documents as playing unwitting roles in the sophisticated laundering operation.
NEWS
January 16, 1997 | From Times Wire Reports
Former President Jean-Pascal Delamuraz read aloud to reporters a formal apology to the head of the World Jewish Congress for accusing Jews of trying to blackmail Switzerland over Jewish assets missing since World War II. In a related matter, the Union Bank of Switzerland admitted Tuesday to throwing away archival material in violation of a government ban on the destruction of records that might reveal details about financial transactions during the Nazi era.
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