UBS Completes Integration of Credit Suisse’s Swiss Operations, Shaking Up Switzerland’s Financial Landscape.

UBS has completed the merger of its domestic unit with Credit Suisse’s operations in Switzerland. This marks an important milestone in the integration of Credit Suisse into UBS, following last year’s takeover. The head of Credit Suisse Switzerland, Andre Helfenstein, has decided to leave the bank as a result of the merger.

Sabine Keller-Busse, president of UBS Switzerland, stated that this merger will streamline the migration of clients and operations to the UBS platform. The majority of client transactions in Switzerland will be migrated to the UBS platform in 2025, occurring gradually with customized updates for clients.

There has been significant debate in Switzerland concerning the size and influence of the enlarged UBS. Analysts suggest that UBS now holds a dominant position in areas such as the Swiss loan and debt markets after acquiring Credit Suisse in a state-engineered rescue. Despite recommendations from the country’s antitrust watchdog, Switzerland’s financial regulator ruled that the takeover does not raise any competition concerns.