UBS - UBS And Credit Suisse Swiss Unit Merger Set For July 1 Says Senior UBS Executive | Benzinga
The Swiss units of UBS Group AG (NYSE:UBS) and Credit Suisse Group are on track to merge by Jul. 1, according to a senior UBS executive.
What Happened: The executive, Sabine Keller-Busse, President of UBS Switzerland, stated that the merger plan is progressing smoothly, Reuters reported on Tuesday, citing Neue Zuercher Zeitung newspaper interview.
“The merger could be done by July 1, 2024,” she said. Customers will start transferring to UBS’s IT systems in 2025. The merger of the parent companies of UBS and Credit Suisse concluded at the end of last month, leaving Switzerland with a single global bank.
UBS’s successful integration of its long-time competitor is a key measure of the deal’s success. Keller-Busse, who confirmed ...