UBS-Credit Suisse merger

2023 - 3 - 20

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UBS takeover of Credit Suisse expected to produce savings of $8 ... (FinanceFeeds)

The combination of the two businesses is expected to generate annual run-rate of cost reductions of more than USD 8 billion by 2027.

Credit Suisse shareholders will receive 1 UBS share for every 22.48 Credit Suisse shares held, equivalent to CHF 0.76/share for a total consideration of CHF 3 billion. The combination is expected to create a business with more than USD 5 trillion in total invested assets and sustainable value opportunities. The combined investment banking businesses accounts for approximately 25% of Group risk weighted assets. All shareholders of Credit Suisse will receive 1 share in UBS for 22.48 shares in Credit Suisse as merger consideration. UBS Chief Executive Officer Ralph Hamers said: “Bringing UBS and Credit Suisse together will build on UBS’s strengths and further enhance our ability to serve our clients globally and deepen our best-in-class capabilities. Lehmann, Chairman of the Board of Directors of Credit Suisse said: “Given recent extraordinary and unprecedented circumstances, the announced merger represents the best available outcome.

Credit Suisse stock nosedives 65%, UBS falls nearly 16% as ... (Livemint)

On Sunday, both UBS and Credit Suisse announced the takeover deal. UBS will be the surviving entity. The Zurich-headquartered bank will acquire Credit ...

UBS will be the surviving entity. The Zurich-headquartered bank will acquire Credit Suisse for CHF 3 billion (approximately $3.25 billion). On Sunday, both UBS and Credit Suisse announced the takeover deal.

Credit Suisse AT1 bondholders consider possible legal action - law ... (Reuters)

Lawyers from Switzerland, the United States and UK are talking to a number of Credit Suisse Additional Tier 1 (AT1) bond holders about possible legal action ...

Quinn Emanuel did not name the bondholders. PIMCO had 3.49% of its 5.66 billion euro ($6.06 billion) GIS Capital Securities Fund in Credit Suisse AT1 bonds, the Morningstar data showed. In Switzerland, the bonds' terms state that in a restructuring, the financial watchdog is under no obligation to adhere to the traditional capital structure hierarchy, which is how Credit Suisse AT1 bondholders lost out. Register for free to Reuters and know the full story Quinn Emanuel said it was in discussions with Credit Suisse AT1 bondholders representing a "significant percentage" of the total notional value the instruments. [(CSGN.S)](https://www.reuters.com/companies/CSGN.S) Additional Tier 1 (AT1) bond holders about possible legal action after the state-backed rescue of Credit Suisse by UBS [(UBSG.S)](https://www.reuters.com/companies/UBSG.S) wiped out AT1 bonds, law firm Quinn Emanuel Urquhart & Sullivan said on Monday.

ubs: UBS-Credit Suisse merger: Role rationalisation may lead to job ... (The Economic Times)

Both UBS and CS have about 7000 people each across three Indian cities in their technology centres. After the merger, role rationalisation is likely to lead ...

[Bankers](/topic/bankers)said the large wealth management portfolio of the combined entity could invite further public scrutiny. "The deal has been announced just a day ago, and it will take time to fructify. In that case, it will have to apply to the It is unlikely it will want to continue these businesses. The bank is very wary of the political fallout of issues like black money, which is why it has decided to retreat to limited areas. It is also very active in high-yield promoter financing against shares.

UBS-Credit Suisse Deal Creates Wealth Management Titan. Others ... (Barron's)

The takeover of Credit Suisse by Swiss rival UBS will merge two of the world's biggest wealth management businesses. The tie-up gives a substantial boost to ...

The tie-up gives a substantial boost to The two companies have operations spanning the globe, and UBS said the merger will make it the world’s second largest wealth manager, with more than $5 trillion in invested assets in its global wealth and asset management arm. [Credit Suisse](#phrase-company?ref=COMPANY%7CCSGN.EB;onlineSignificance=significant) by Swiss rival [UBS](#phrase-company?ref=COMPANY%7CUBS;onlineSignificance=significant) will merge two of the world’s biggest wealth management businesses.

Credit Suisse bond holders consider possible legal action after $23 ... (The Straits Times)

The lender said 16 billion Swiss francs (S$23 billion) of its AT1 debt will be written down to zero as part of its rescue deal.

It did not respond to a request for comment on its holding or the possible legal action. The exposure of GAM’s €1.15 billion Star Credit Opportunities fund to Credit Suisse AT1 debt was 4.81 per cent at the end of February, based on Morningstar data. Pimco had 3.49 per cent of its €5.66 billion (S$8 billion) GIS Capital Securities Fund in Credit Suisse AT1 bonds, the Morningstar data showed. In Switzerland, the bonds’ terms state that in a restructuring, the financial watchdog is under no obligation to adhere to the traditional capital structure hierarchy, which is how Credit Suisse AT1 bond holders lost out. Under the UBS-Credit Suisse merger deal, holders of Credit Suisse AT1 bonds will get nothing, while shareholders, who usually rank below bond holders in terms of who gets paid when a bank or company collapses, will receive US$3.23 billion (S$4.3 billion). Quinn Emanuel said it is in discussion with Credit Suisse AT1 bond holders representing a “significant percentage” of the total notional value of the instruments.