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Marcel Ospel, Architect of the Swiss Bank UBS, Is Dead at 70
Marcel Ospel, who fashioned the Swiss bank UBS into a global banking power but then saw it come close to unraveling during the financial crisis of 2008, died on April 26 at his home in Wollerau, Switzerland, near Zurich. He was 70.
The cause was cancer, his wife, Adriana Ospel-Bodner, said.
Mr. Ospel rose from modest origins to become the leading figure in Swiss banking in the early years of this century — and, for a time, one of the top financial executives of his generation. His crowning achievement was engineering the merger in 1998 of Swiss Bank Corporation, which he headed, with Union Bank of Switzerland, creating the wealth management giant UBS.
As UBS’s first chief executive, Mr. Ospel sought to parlay the bank’s status as the largest player in the cozy and secretive Swiss banking world into a position as a leading global wealth manager and investment bank. As part of that effort he acquired the big American brokerage firm PaineWebber in 2000.
Like rival executives at other banks, including Deutsche Bank in Germany and Barclays in Britain, Mr. Ospel championed investment banking and trading in sophisticated financial products, like derivatives. He also helped usher in an era of large salaries and bonuses for himself and other bankers, which exposed him to criticism when the business soured.
When the financial crisis hit in 2008, UBS found itself stuck with large losses in American financial products like mortgage-backed securities. The bank was forced to accept a bailout by the Swiss central bank in 2008. That same year, Mr. Ospel, who had moved up to the chairmanship in 2001 but was still active in guiding the bank, resigned amid much criticism over the bank’s need to be rescued.
The next year, UBS agreed to pay fines and other penalties of $780 million to settle a case in which it was accused of helping American clients evade taxes. As part of the deal, the bank agreed to turn over information on potential tax evaders to the American authorities, thus piercing Switzerland’s cherished bank secrecy.
As an executive at that bank in the 1990s, he was involved in buying O’Connor, a Chicago derivatives house; S.G. Warburg, a British investment bank; and Brinson Partners, an American wealth management firm — deals that appeared to give the Swiss bank the confidence to move on to bigger game when Mr. Ospel ultimately took charge of it.
After leaving UBS, Mr. Ospel kept a low profile, spending time with Ms. Ospel-Bodner, whom he married in 2005, and their twins, a son and daughter, who also survive him, as do two sons and two daughters from two previous marriages.
https://world-reports.com/2020/05/22/marcel-ospel-architect-of-the-swiss-bank-ubs-is-dead-at-70/
Cap#2 is a certificate of "deposit" at UBS via the Black Eagle Trust- Ferdinand Marcos was the Pindar at the time.
Alarm.com sold by Technology Crossover Ventures: $264.25m-May 22
Big bois in Palo Alto cashing out and sold to YOU.
Morgan Stanley gets the call for the sole underwriter for the proposed offering.
Jay Hoag cofounded Technology Crossover Ventures in 1995. In those 18 years, TCV has raised $7.7 billion and plowed it into the likes of Facebook, Netflix and Grouponall investments that Hoag has personally led. The firm invested $260 million in Facebook (IPO 2012), reaping a 2x return in the first few months. TCV is known to invest in its portfolio companies after they go publichence the "Crossover" in the group's name. In late 2011, after achieving full liquidity from prior investments in Netflix, Hoag led a new investment in the company and serves on its board. TCV, continued to invest in the company in May 2012, selling a chunk of its Netflix stake in early 2013 at a 2x return.
https://www.forbes.com/profile/jay-hoag/#428c7b652a35
Alarm com : Announces Proposed Public Offering of Common Stock by Selling Stockholders
https://www.marketscreener.com/ALARM-COM-HOLDINGS-INC-22619561/news/Alarm-com-Announces-Proposed-Public-Offering-of-Common-Stock-by-Selling-Stockholders-30636861/
Alarm.com Holdings, Inc. is a platform solution for the connected property. The Company offers a suite of cloud-based solutions for the smart home and business, including interactive security, video monitoring, intelligent automation and energy management. The Company operates through two segments: Alarm.com and Other. The Alarm.com segment represents its cloud-based platform for the intelligently connected property solutions. The Other segment is focused on researching and developing home and commercial automation and energy management products and services for sale in adjacent markets. Its solutions are used in both smart homes and businesses. It is involved in designing and manufacturing various types of hardware that enable its solutions, including cellular communication modules, image sensor, video cameras and alarm.com smart thermostat. The Company offers a suite of high definition, Internet protocol (IP), video cameras to enable its video monitoring services.
Number of employees : 1 160 people.
honestly there is not enough space to detail how many pies this place has /had it's hand in.
portfolio
https://www.tcv.com/companies/
Technolgy Crossover Ventures
Founded in 1995, TCV is one of the largest private equity and venture capital firms focused solely on information technology companies. We are flexible in providing capital in a manner that addresses the goals of the management and shareholders of the companies in which we invest. We take both minority and majority positions and provide capital for growth, shareholder liquidity, acquisitions, buyouts, and recapitalizations. We are active, long-term investors who stay involved with, and continue to invest in, our portfolio companies through their IPOs and beyond. With $7.7 billion under management, we have the ability to invest significant amounts of capital ranging from $20 million to over $200 million. For larger transactions, we may leverage our large base of limited partners, many of whom have the ability to make sizeable co-investments alongside TCV. Since inception, TCV has guided over 40 companies through initial public offerings and over 25 companies through strategic sales. We are currently investing our sixth family of funds and have developed an extensive network of companies, entrepreneurs, and executives. These relationships, our industry leading position, and our strong reputation based on our team and successful investments all contribute to a virtuous cycle that benefits both TCV and our portfolio companies.
https://www.wallstreetoasis.com/company/technology-crossover-ventures
https://www.finviz.com/insidertrading.ashx?oc=1467001&tc=7&b=2
Intercontinenal Exchange Inc. sold by CEO: $33.24m-May 20
Intercontinental Exchange, Inc. is an operator of regulated exchanges, clearing houses and listings venues. The Company provides data services for commodity and financial markets. The Company's segments include Trading and Clearing segment, and Data and Listings segment. The Trading and Clearing segment includes the Company's transaction-based execution and clearing businesses. The Company's Data and Listings segment includes its subscription-based data services and securities listings businesses. The Company operates regulated marketplaces for listing, trading and clearing a range of derivatives and securities contracts across the asset classes, including energy and agricultural commodities, interest rates, equities, equity derivatives, exchange traded funds, credit derivatives, bonds and currencies. The Company offers market data services to support the trading, investment, risk management and connectivity needs of customers across a range of asset classes. Number of employees : 5 989 people.
https://www.marketscreener.com/INTERCONTINENTAL-EXCHANGE-14931198/company/
https://www.finviz.com/insidertrading.ashx?oc=1343882&tc=7
NYSE boss sold his own stock ahead of coronavirus market meltdown
https://www.cbsnews.com/news/nyse-jeffrey-c-sprecher-kelly-loeffler-sold-company-stock-ahead-of-coronavirus-market-meltdown/
The husband of Kelly Loeffler
Georgia Sen. Kelly Loeffler dumped stocks after coronavirus meeting
Republican Sen. Kelly Loeffler, whose husband is chairman and CEO of the New York Stock Exchange, began selling off more than a million dollars in stocks on the same day as the closed-door Senate meeting on Friday, Jan. 24, reports the Daily Beast.
https://nypost.com/2020/03/19/georgia-senator-dumped-stocks-after-private-meeting-on-coronavirus-report/
>>9282378 lb Sen. Loeffler Files New Document Related To Pre-Senate Transactions
_15-00338 Dash 8 off New Jersey coast again