(MENAFN- Swissinfo)
Although UBS CEO Ralph Hamers could not say how many jobs may be on the line with the takeover of Credit Suisse, he believes that 'together we can build an even more beautiful bank.” © Keystone / Michael Buholzer
UBS CEO Ralph Hamers says that by taking over rival Credit Suisse, his bank was maintaining the reputation of the Swiss financial centre.
This content was published on March 20, 2023 March 20, 2023 minutes Reuters/SRF/gw Español
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Hamers, who will lead the newly merged business together with UBS Chair Colm Kelleher, tried to quell any nervousness about the deal struck over the weekend to buy the ailing Credit Suisse for CHF3 billion ($3.2 billion).
“The takeover means that we are bringing back stability and security for CS clients,” he said in an interviewexternal link with Swiss public television SRF on Monday.“We have a very good capital ratio at UBS and a very good liquidity position. So we have contained the risks in the markets.”
+ read more on the historic takeover of credit suisse by ubs
“We can now be a globally managed bank with assets under management of up to CHF5 trillion [$5.4 trillion],” he added.“And with that, we bring something to the world and to Switzerland that we can be proud of.”
No information on layoffsHamers, however, could not say how many staff members may potentially face layoffs.
“There are certainly opportunities and chances for growth,” he said.“The many employees – CS has 50,000 worldwide – also have a new future together with us. And together we can build an even more beautiful bank.”
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