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This is revealed in a message sent to employees by the AWP news agency on Monday. A UBS spokesperson confirmed the contents upon request.
“After communicating Credit Suisse’s decision to integrate the Swiss business, I am pleased to introduce today the designated leadership team for the Switzerland region,” Keller-Busse wrote in his email.
This is an important step: “We have the opportunity to create a unique bank.” He wants to approach the implementation of the integration “with due caution.”
CEO of Credit Suisse Switzerland continues his duties
The management team at UBS Switzerland consists of the Personal and Corporate Banking (P&C) management team – this is how UBS calls its business with private, corporate and institutional clients in Switzerland – as well as other managers in the Swiss region. Appointments will be valid as of September 18.
Among other things, André Helfenstein will remain CEO of Credit Suisse (Switzerland) AG and report to Ulrich Körner, CEO of Keller-Busse and CS. Simone Westerfeld remains head of private clients at UBS. Alain Conte remains Head of Corporate Clients Switzerland, while Andy Kollegger continues to take over the international side.
The asset management business in Switzerland has been led by UBS manager August Hatecke since July 2023, with Aleksandar Ivanovic remaining responsible for asset management. The Swiss investment bank has the only dual leadership of UBS and CS management: Jens Haas (CS) and Martin Kesselring (UBS) became co-chairmen.
Some parts of the CS line are already gone
Reto Müller, the Swiss company’s chief risk officer, also comes from the ranks of Credit Suisse. UBS said his predecessor, Frank Höner, decided to leave the bank at the end of November. Müller has been regional director of Credit Suisse’s Eastern Switzerland region for the last six years.
But some senior members of the CS management team at the Swiss unit had already left. In July, it was learned that CS’s long-time corporate account manager, Andreas Gerber, had left the bank.
Anke Bridge Haux, responsible for retail banking and specifically CSX mobile banking, also announced in March that she will become CEO of LGT Bank Switzerland.
3,000 layoffs in total
UBS boss Sergio Ermotti confirmed that Keller-Busse will be appointed head of the merged Swiss unit at the end of August. At that time, the decision to fully integrate CS Switzerland into UBS was conveyed.
The takeover of Credit Suisse by UBS will lead to a total of 3,000 layoffs in Switzerland, according to the bank. 1,000 of these relate to the integration of CS Switzerland into the banking group, the other 2,000 to other local business areas.
Meanwhile, CS boss Ulrich Körner also addressed his employees. Another internal letter held by AWP states that Chief Operating Officer (COO) Francesca McDonagh has decided to leave the bank. His duties would be assumed by various other individuals.
(SDA/sak)
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.
