Investing
UBS prioritises Credit Suisse investment bank integration, cost cuts- FT
© Reuters. FILE PHOTO: Buildings of Swiss banks UBS and Credit Suisse are seen on the Paradeplatz in Zurich, Switzerland, March 20, 2023. REUTERS/Denis Balibouse/File Photo/File Photo
(Reuters) – UBS Group AG (SIX:) has prioritised integrating Credit Suisse’s investment bank and accelerating cost-cutting, the Financial Times reported on Friday, citing people involved in the planning.
Executives will move first on bringing the two investment banks together to “create clarity on day one” and avoiding “two people going out and calling institutions to sell the same products”, the report said.
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