UBS Completes Merger with Credit Suisse’s Operations in Switzerland, Upends Swiss Financial Landscape

UBS has announced the completion of its merger with Credit Suisse’s operations in Switzerland. As a result, Andre Helfenstein, CEO of Credit Suisse Switzerland, has decided to leave the bank.

Sabine Keller-Busse, president of UBS Switzerland, described the merger as a significant milestone in the integration of Credit Suisse into UBS following last year’s acquisition. The gradual migration of client transactions to the UBS platform is expected to be completed by 2025, with customized updates for clients along the way.

There have been ongoing discussions in Switzerland about the size and influence of the combined UBS entity, which now holds a dominant position in Swiss loan and debt markets. Despite concerns raised by antitrust watchdogs about competition issues, Switzerland’s financial regulator has determined that the merger does not pose any competition risks.