UBS stepping in to save Credit Suisse with a $3.2-billion acquisition has provided the beleaguered Swiss bank s India employees a glimmer of hope.
The surprise deal - engineered by the Swiss government - has triggered optimism of fewer job losses at Credit Suisse s India unit and better synergies at key verticals, such as wealth management and investment banking. UBS is a much stronger hand. Coming within its fold will give Credit Suisse s wealth management and investment banking divisions a good home.