15th June 2023


UBS and Credit Suisse merge completed

UBS completed its emergency takeover of local rival Credit Suisse creating a Swiss banking and wealth management giant with a $1.6 trillion balance sheet.

This is the biggest banking deal since the 2008 financial crisis, and UBS Chiefs point out there are "many opportunities" for clients, staff, shareholders and Switzerland.

The new group has $5 trillion of assets, which gives UBS a leading position in key markets and also ends Credit Suisse's 167-years of independence.