UBS Emerges as Wealth Management Giant After Credit Suisse Takeover
TL;DR Summary
UBS has completed its emergency takeover of Credit Suisse, creating a giant Swiss bank with a balance sheet of $1.6tn and greater muscle in wealth management. The merger also brings to an end Credit Suisse’s 167-year history, marred in recent years by scandals and losses. The two banks jointly employ 120,000 people worldwide, although UBS has already said it will be cutting jobs to reduce costs and take advantage of synergies.
- UBS is wealth management behemoth after Credit Suisse takeover Al Jazeera English
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- UBS says it has completed the takeover of stricken rival Credit Suisse CNBC
- Don't Say It Too Loudly, But UBS Just Got a Steal of a Deal The Wall Street Journal
- UBS completes Credit Suisse takeover. Here’s what it means CNN
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