Basel - Sarasin and Cie, a private Swiss bank, said Thursday its adjusted net profits in 2008 were 114.4 million Swiss francs (98.2 million dollars), down from 173.5 million the previous year.
The bank said it had an "impressive" new money inflow of 14.5 billion francs in 2008, a 30 per cent increase over 2007. Just over half of the new money came in during the later part of the year.
At the end of 2008, Sarasin managed client assets totalling 69.7 billion, a drop of 16 per cent compared to the previous year, attributed to overall market conditions.
Zurich - The embattled Swiss banking giant UBS announced Thursday it appointed a new chief executive officer to replace Marcel Rohner, who resigned, at the top of the company.
"This represents a further step to restore stakeholder confidence and to pave the way back to success," UBS said in a statement.
The bank's board of directors said it appointed Oswald J. Grubel to the position of CEO with immediate effect. Grubel for decades worked at Credit Suisse, the second largest Swiss bank behind UBS.
Geneva - As a young girl, Elisapee Sheutiapik never wore short-sleeved shirts, but the weather in the summertime in recent years can reach 25 degrees in her hometown of Iqaluit, close to the Arctic Circle in northern Canada.
Climate change has also impacted the lives of winter hunters from the indigenous Inuit people in Canada.
"Our older hunters, who go out to the land regularly, are sometimes stuck now, and we are conducting more search and rescue missions" said Sheutiapik, the mayor of Iqaluit.
Zurich - The Swiss-based private bank EFG International said Wednesday its profit in 2008 dropped 33 per cent compared to the previous year. The bank's stock closed down about 35 per cent.
Meanwhile, the Pictet and Cie private bank based in Geneva said it would expand its wealth management business, in a move against the current of the global economic downturn.
Zurich - The Swiss-based private bank EFG International said Wednesday its profit in 2008 was down 33 per cent compared to the previous year. The bank's stock dropped about 20 per cent in morning trading.
The asset manager said its profit for 2008 was 221.9 million Swiss francs (191.6 million dollars) on total revenues of 946.3 million, a slight increase over the previous year. If adjusted for non-recurring items, net profit was 280.9 million.
Zurich - Shares in UBS fell Tuesday, hitting a new low on the Zurich exchange, as Switzerland's largest bank said it would fight to keep client information protected.
The stock hit 9.35 Swiss francs during trading, a record low, but did recover slightly to close at 9.85, down 1.5 per cent on the day.
A US judge on Monday gave UBS until April 30 to file a response to a summons against it by authorities there, demanding that the bank hand over some 52,000 names of US clients holding assets in Switzerland. The judge scheduled a trial for July 13.
Basel - Sarasin and Cie, a private Swiss bank, said Thursday its adjusted net profits in 2008 were 114.4 million Swiss francs (98.2 million dollars), down from 173.5 million the previous year.
Zurich - The embattled Swiss banking giant UBS announced Thursday it appointed a new chief executive officer to replace Marcel Rohner, who resigned, at the top of the company. 
Geneva - As a young girl, Elisapee Sheutiapik never wore short-sleeved shirts, but the weather in the summertime in recent years can reach 25 degrees in her hometown of Iqaluit, close to the Arctic Circle in northern Canada.
Zurich - The Swiss-based private bank EFG International said Wednesday its profit in 2008 dropped 33 per cent compared to the previous year. The bank's stock closed down about 35 per cent.
Zurich - The Swiss-based private bank EFG International said Wednesday its profit in 2008 was down 33 per cent compared to the previous year. The bank's stock dropped about 20 per cent in morning trading.
Zurich - Shares in UBS fell Tuesday, hitting a new low on the Zurich exchange, as Switzerland's largest bank said it would fight to keep client information protected.
