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Merger of Swiss units of UBS and Credit Suisse could happen by July

credit suisse ubs
Since the collapse of Credit Suisse in March 2023, the bank has been gradually taken over by former rival UBS. Ti-Press

The head of UBS Switzerland said on Tuesday that the operational merger could happen as early as next month – somewhat sooner than planned.

The merger would initially mainly affect employees, who would then already be able to work together internally, Sabine Keller-Busse told the Neue Zürcher Zeitung newspaper on Tuesday.

“For Credit Suisse clients, only the legal counterpart will initially change. They will still be able to use their CS debit cards, mortgages or investment products as long as the IT systems are still running,” Keller-Busse told the paper.

+ One year on from Credit Suisse collapse, questions remain

For some complex clients such as large family offices or companies, the migration will already begin this year. The rest of the clients will then be migrated to the UBS systems by New Year’s Eve 2025. “Then it will be back to normal for our business,” Keller-Busse said.

The legal merger of UBS AG and Credit Suisse AG was finalised around a fortnight ago, on May 31.

Adapted from German by DeepL/dos

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