Standard Chartered chief executive Bill Winters spoke about the UBS takeover of Credit Suisse, calling the deal «very surprising».
More than two months after UBS agreed to buy Credit Suisse in a Swiss-brokered acquisition, onlookers are still sounding off on the takeover. Standard Chartered CEO Bill Winters, for example, called the deal «very surprising» and the arrangement to prioritize shareholders «unusual».
«The conclusion was very surprising to me, in terms of the way that the bank was resolved through this very unusual sale to UBS, with associated unusual payments to shareholders versus bondholders,» said a «Reuters» report citing Winter at the Qatar Economic Forum.
Transformation Needed
According to Winters, the banking crisis was over but a transformation of lenders was still required.
Winters was not alone in commenting about the Credit Suisse takeover. At the same forum, Mansoor Ebrahim al-Mahmoud, CEO of Qatar Investment Authority – Credit Suisse’s second-largest investor – said he thought UBS received a «good deal».
