Around six months after the definitive takeover of Credit Suisse by UBS, the merger agreement between the two operating companies has been finalised.
This content was published on
2 minutes
Keystone-SDA
The boards of directors of UBS Group and the two companies have approved the merger, the bank announced on Thursday. Subsequently, UBS and Credit Suisse have concluded a definitive merger agreement. The merger is therefore expected to be completed in 2024, subject to regulatory approvals.
At the time of the definitive takeover of the Credit Suisse Group on June 12, 2023, the UBS Group had already announced that it would initially operate two separate companies, UBS AG and Credit Suisse AG. For their part, these companies will continue to operate their subsidiaries and branches and serve their clients.
The merger of UBS AG and Credit Suisse AG in 2024 was announced by UBS CEO Sergio Ermotti at the presentation of the third-quarter figures as an important milestone for 2024. The merger of the two legal entities is likely to be an important prerequisite for the further integration of the two banks, for example for the migration of clients in the core businesses, but also for the merger of important subsidiaries.
UBS is also continuing to prepare the planned merger of UBS Switzerland AG and Credit Suisse (Switzerland) AG, as detailed in Thursday’s press release. The merger of the two Swiss companies is also still expected to take place in 2024.
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles. You can find them here.
If you want to know more about how we work, have a look here, and if you have feedback on this news story please write to english@swissinfo.ch.
External Content
Your subscription could not be saved. Please try again.
Almost finished… We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.
Popular Stories
More
Swiss Abroad
Aussie adoptee gains Swiss citizenship at 54 thanks to old envelope
Swiss skiers nab top spots in iconic Lauberhorn race
This content was published on
Swiss skier Marco Odermatt has won the Lauberhorn downhill ski race in Wengen, Switzerland, for the third time, just ahead of compatriot Franjo von Allmen.
Switzerland’s neighbours are ‘not role models’ in fiscal policy, says finance minister
This content was published on
Swiss finance minister Karin Keller-Sutter defended the country's compliance with the debt brake at a meeting of her party, the Radical-Liberals, on Saturday.
Pope Francis praises Swiss Guards’ patience with pilgrims
This content was published on
During a private audience on Saturday, Pope Francis praised the Swiss Guards for their "great patience" with pilgrims who visit the Vatican.
Swiss designer Kevin Germanier to design outfits for Eurovision presenters
This content was published on
Designer Kevin Germanier will dress the team of presenters at the 2025 Eurovision Song Contest, which takes place in May in Basel.
Swiss President Karin Keller-Sutter makes official visit to Austria
This content was published on
Karin Keller-Sutter, who took over the rotating Swiss presidency this year, has made her first official visit abroad as president to Austria.
This content was published on
The boss of Swiss Post, Roberto Cirillo, is stepping down at the end of March after six years in the job, the company announced on Friday.
This content was published on
The name and logo of the former Credit Suisse headquarters at Paradeplatz 8 in Zurich's financial centre were officially replaced by those of UBS on Friday.
Outgoing Swiss federal police chief warns of insufficient resources
This content was published on
The outgoing director of the Federal Office of Police (Fedpol), Nicoletta della Valle, has warned that officers, prosecutors and investigators in Switzerland have insufficient resources to do their work.
Swiss university inaugurates Europe’s most powerful centrifuge
This content was published on
The federal technology institute ETH Zurich has inaugurated Europe's most powerful geotechnical centrifuge. Researchers use the instrument to simulate the effects of natural hazards.
Swiss film industry reports successful year in 2024
This content was published on
Swiss films did well in cinemas in 2024, recording over 907,000 admissions, the Federal Statistical Office (FSO) reports. They accounted for almost 9% of all films shown last year in Switzerland.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.