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By the end of the summer, UBS wants to create significantly more clarity about the integration of Credit Suisse. UBS boss Sergio Ermotti, 63, said at the “Point Zero Forum” in Zurich on Tuesday that overall, the old competitor’s integration is going very well and customers are showing a lot of support.
He is very pleased that the situation at Credit Suisse has stabilized since then. The “third phase” of integration begins now: 1,200 to 1,500 people will be given clarity on their responsibilities over the next twenty days, he explained.
fast pace
This should probably mean that administrators in particular can find out what their business will look like and whether they will still be needed in the new UBS.
In conclusion, Ermotti emphasizes that the success of the UBS bailout without outside help and the dissolution of the sick big bank is a sign of the financial center’s strength. But UBS had to complete tasks within three months, which would take about 9 to 12 months for a normal takeover.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
