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ZURICH: Sergio Ermotti will return as CEO of Swiss banking giant UBS to pilot the controversial acquisition of troubled rival Credit Suisse, its board announced Wednesday.
Sergio Ermotti will return as CEO of Swiss banking giant UBS to pilot the controversial acquisition of troubled rival Credit Suisse, its board announced Wednesday. UBS and Credit Suisse were both among the 30 banks around the world deemed too big to fail and therefore considered Global Systemically Important Banks.
UBS announced Wednesday it was bringing back former CEO Sergio Ermotti to lead the Swiss banking giant's controversial acquisition of troubled rival Credit Suisse.
The Swiss National Bank, which played matchmaker in Sunday's takeover of Credit Suisse, said the formation of one giant bank in Switzerland would create competition issues that would need addressing carefully
GENEVA, March 24, 2023 (BSS/AFP) - The marriage of UBS and Credit Suisse was hastily arranged to prevent a global