Swiss Banking Giant UBS May Record $17B Loss from Credit Suisse Takeover

According to the UBS post-acquisition plans, it is going to implement a phased integration of the Credit Suisse brand which may last a couple of years.  Swiss multinational banking giant UBS Group AG (SWX: UBSG) has revealed new details about what its liabilities are likely to be from the acquisition of Credit Suisse Group AG … Read more

UBS Appoints Credit Suisse CEO Ulrich Koerner to Its Board of Directors

The acquisition of Credit Suisse by the bigger bank has been viewed using different lenses by industry observers. Swiss multinational investment banking firm UBS Group AG (SWX: UBSG) has announced that Ulrich Koerner, the CEO of Credit Suisse, will be joining the executive board of the new joint entity. The update comes a few weeks … Read more

Credit Suisse Reported Over $68B Outflows in Q1 2023

While there are plans in place to repay shareholders following the Credit Suisse acquisition by UBS, many may be unable to quantify their losses because of the bank’s collapse. Swiss multinational financial services giant Credit Suisse Group AG (SWX: CSGN) has shared more insights into its finances for the first quarter with outflows that marked … Read more

UBS Names Sergio Ermotti as New CEO to Supervise Credit Suisse Acquisition

It is said that the new CEO is equipped as the “best pilot” to navigate the current business challenges. Investment banking company UBS has named former UBS Group CEO Sergio Ermotti as the new CEO to oversee the Credit Suisse takeover. UBS bought Credit Suisse for $3.2 billion last week as regulators seek to ramp … Read more

UBS & Credit Suisse Shares Sink Following Bailout Deal

UBS and Credit Suisse both saw their shares spiral after the former agreed to an emergency rescue of the latter.  Shares of Swiss banking giants UBS and Credit Suisse plunged substantially following a takeover of the latter. On Monday morning, UBS secured a 3 billion Swiss franc ($3.2 billion) bailout of its troubled domestic rival amid the global banking crisis. … Read more