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UBS learned one thing from the CS debacle: it’s impossible not to communicate. The new UBS cleverly fills in the gaps between milestones on the road to Credit Suisse’s integration, even if there isn’t always much to say and many questions remain unanswered. For example, about the fate of CS Switzerland or layoffs.
However, with the current announcement, UBS is blowing off a lot of speculation about the new bank’s management team and structure. It was definitely speculation about CS’ status that started its downfall.
Head coach – Sergio Ermotti (62) – was clear from the start. Now Ticino has nominated its top 11 for the day after the deal closes, so to speak. The most important staff: Ulrich Körner (60) may stay, which surprises many. Ermotti consciously trusts people he knows and trusts.
The failed CEO of CS becomes a member of the group management of UBS, where he represents the interests of Credit Suisse. Thus, he becomes the most important advocate for CS employees who have to trust that the hiring process with their new employer will be fair and transparent. In this capacity, the grains are not allowed to deteriorate.
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.
