Equity

Credit Suisse postpones 10%-12% return on tangible equity ambition

Adds further detail from statement, background

ZURICH, Dec 15 (Reuters)Credit Suisse CSGN.Son Tuesday reiterated its key financial ambition for a 10%-12% return on tangible equityin the medium term but avoided re-committing to the 10% goal previously set for this year.

Switzerland’s second-biggest bank also laid out plans to boost growth in wealth management, aiming to grow wealth-related pre-tax profit to 5.0 – 5.5 billion Swiss francs ($5.64- $6.20 billion) by 2023 or approximately 10% annually, as well as investment banking.

It said it expected to turn around its asset management business in 2021 by focusing more on alternative and private market offerings, and those related to sustainable investing.

“Today, we are outlining … broad-based investment initiatives to accelerate growth in our Wealth Management-related businesses and our Investment Bank,” Thomas Gottstein said in remarks prepared for his first investor outlook presentation as

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European stocks and U.S. equity futures climb on COVID-19 vaccine optimism and stimulus-deal hopes



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© stringer/Agence France-Presse/Getty Images


EUROPE MARKETS

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European stocks traded higher on Monday, alongside U.S. equity futures, with investors encouraged by COVID-19 vaccine progress and hopes for a stimulus deal out of Washington. No collapse in Brexit talks also lifted sentiment.

The Stoxx Europe 600 index rose 0.9%, after the index logged a 1% loss last week, snapping a five-week winning streak. The German DAX and the French CAC 40 were up over 1% each.

Gains were less pronounced for the FTSE 100 index which rose 0.5% as the pound surged against the dollar, last up 1.5% to $1.3431. U.K. Prime Minister Boris Johnson and European Commission President Ursula von der Leyen, agreed on Sunday to go “the extra mile” to reach a post-Brexit trade deal.

The two said that discussions would continue as the legal deadline of Dec. 31 looms. And while Johnson pointed out that both sides

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The Rise Of Private Equity And Venture Capital, And How SVB Financial Group Is Funding It All (NASDAQ:SIVB)

Silicon Valley Bank Introduces "Access to Innovation" for the Underrepresented - World Biz Magazine

Source: World Biz Magazine

Introduction

When asked what he thought about diversification, Warren Buffett produced one of his sage one-liners, “Diversification may preserve wealth, but concentration builds wealth.” SVB Financial Group (SIVB) lives by that motto; they operate almost exclusively in loan-origination for the private equity and venture capital industry, and they are very good at what they do – outperforming the broader KBW banking index since the start of the pandemic. With the meteoric rise of the private equity and venture capital industry, SIVB is uniquely positioned to become the next decade’s banking growth play.

ChartData by YCharts

Investment Thesis

The rise of the private equity and venture capital (PEVC) industry will more than offset the lingering effects of net interest margin (NIM) deterioration. Low interest rates are a blessing in disguise for alternative investments; yield is increasingly hard to come by in the saturated bond and public equity

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