UBS Ends $10 Billion Rescue Agreement With Swiss State
UBS Group AG announced on Friday that it has ended its agreement with the Swiss government to cover losses incurred as a result of the bank's takeover of rival Credit Suisse. This is a sign that the combined company is on track in a...
UBS Undergoes Restructuring Following Credit Suisse Deal
UBS Group AG has confirmed that it will implement significant changes to its global investment banking division as soon as Monday in an effort to integrate Credit Suisse following its acquisition, sources close to the matter confirmed. UBS completed its takeover of Credit Suisse...
UBS Decides to Retain EY as Auditor Following Credit Suisse
UBS Group has decided to retain accounting firm EY as its external auditor, the Financial Times reported on Sunday. EY has been tasked with auditing Credit Suisse's accounts from 2024 which will require the firm to call in staff from other countries to assist...
UBS Expected to Keep Credit Suisse Domestic Unit Private
UBS Group AG is not looking to launch an IPO for Credit Suisse's domestic unit, Swiss newspaper Schweiz am Wochenende reported on Saturday. According to the newspaper, UBS CEO Sergio Ermotti believes that taking this unit public could actually strengthen the bank's international competitors....
UBS Prospects “Better Than Ever”, CEO States
UBS chief executive Sergio Ermotti stated on Saturday that his bank appears to be poised for success following its takeover of former Swiss banking rival Credit Suisse.
"The prospects for UBS are better than ever," Ermotti wrote in an opinion piece for the Swiss newspaper...
UBS Completes Credit Suisse Takeover Following State-Assisted Intervention
UBS confirmed on Monday that it has completed its takeover of Credit Suisse, almost three months after embarking on a Swiss government-backed acquisition of the investment bank.
"This is a very important moment — not just for UBS, (but) for Switzerland as a financial location...