The integration process will be challenging and will require difficult decisions, particularly regarding employment.
Thousands of jobs could be lost due to overlapping operations.
The coming months are expected to be "bumpy." The merger is complex both technically and politically.
The government had to force UBS into the marriage to prevent Credit Suisse from collapsing, and the resulting megabank is a concern for political leaders.
The details of the merger are still being worked out, and many questions remain unanswered.
The publication date of UBS's second-quarter financial results has been pushed back to August 31.
The financial regulators in Switzerland, FINMA, should ensure competition and consider a spin-off of certain business units.
The government and central bank injected 259 billion Swiss francs of liquidity to facilitate the takeover of Swiss Re by Credit Suisse.
The aim is to prevent such a crisis from happening again.
The parliamentary leader of the centre-right Liberals party emphasized the need to ensure the crisis cannot happen again for future generations.
LONDON DAILY ARCHIVE
UBS Completes Takeover of Credit Suisse, Creates Megabank and Thousands of Jobs at Risk
UBS has completed its takeover of Credit Suisse, creating a megabank.
12 June 2023 · 14:16 UTC
