JOURNAL ARTICLE

Saudi Arabia's PIF to Shun Swiss Financial Markets After Credit Suisse.

  • Published In: Bloomberg.com, 2025. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Nair, Adveith; Burke, Christine 3 of 3

Abstract

The article focuses on the decision of Saudi Arabia's Public Investment Fund (PIF) to cease investments in Switzerland's financial markets following the controversial takeover of Credit Suisse by UBS Group AG. PIF Governor Yasir Al Rumayyan expressed concerns about the abrupt changes that disregarded investor votes, highlighting the negative impact on Middle Eastern investors, particularly the Saudi National Bank, which previously held a significant stake in Credit Suisse. Al Rumayyan's remarks were made during an event in Albania, where he also announced plans to expand PIF's investments in Europe to $170 billion by the start of the next decade, despite the setbacks in Switzerland. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2025/05, pN.PAG
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2025
  • Accession Number:185307636
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