Swiss Bank Gigabank Will Be Officially Founded On Monday – Anything To Worry?

Sergio Ermotti, chief executive of UBS, recently sought to reassure Switzerland about the newly created banking giant, which was created through the historic acquisition of former rival Credit Suisse, Reuters reports. Ermotti mentioned this in an opinion article published by the Swiss newspaper Tages-Anzeiger

The outlook for UBS is better than ever, and this also applies to the future of the Swiss financial center and its important role in the Swiss economy.

Irmotti, who returned to the CEO seat shortly after the announcement of the government-coordinated rescue of Credit Suisse, caused some surprise, primarily the merged bank. with concerns about its size Dealing with it – He acknowledged that UBS is undoubtedly a big bank, but emphasized it The company’s business model contributes to the prosperity of Switzerland.

The deal officially closed on Monday, but few details have been announced about how the two banks will merge. The two banks have a combined balance sheet of $1.6 trillion and employ 120,000 employees.

Ermotti also touched on the issue of what will happen to Credit Suisse’s Swiss business and stated that this should be considered carefully. This statement highlights the importance of careful planning and consideration for a smooth integration process and continued success.

in order to guarantee

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