UBS has completed the merger with Credit Suisse in the US. There is also an update regarding the process in Switzerland.
UBS is completing the transition to a single American intermediate holding company. The major bank announced this on Tuesday. This is another important milestone on the path to integration, according to a statement.
At the same time, UBS expects that the merger of Credit Suisse (Switzerland) and UBS Switzerland can be completed as early as July 1, 2024. However, this still requires regulatory approval. UBS Switzerland CEO Sabine Keller-Busse hinted in an interview with the «NZZ» on Tuesday that the merger could take place earlier.
Complex Customers
However, this initially concerns the employees. For Credit Suisse customers, only the legal counterparty will change at first.
They will be migrated to UBS systems throughout 2025. However, UBS will start with some complex customers, such as large family offices or large corporations, as early as 2024, according to Keller-Busse.
