UBS has announced a new operating model and leadership team following the acquisition of Credit Suisse which will operate alongside UBS and its business divisions, functions and regions under UBS Group.
UBS expects the legal completion of the acquisition to take place in the next few weeks. At this time, Credit Suisse Group will be merged into UBS Group and the combined entity will operate as a consolidated banking group. UBS Group CEO Sergio P. Ermotti (pictured) said that UBS and Credit Suisse will continue to operate independently for the foreseeable future and UBS will carry out the integration in a phased approach. The combined firm will operate with five business divisions, seven