(MENAFN- Swissinfo) The final chief executive of Credit Suisse, Ulrich Körner, is set to leave UBS in the coming weeks, as the Swiss bank prepares to complete a crucial step in the integration of its former rival.
This content was published on May 6, 2024 - 08:25 3 minutes Owen Walker, Financial Times
UBS executives are working to complete the merger of the bank's legal entities with those of Credit Suisse by the end of May, according to people with knowledge of the plans, just over a year after the Swiss state engineered the shotgun marriage between its two biggest lenders.
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Körner, who was appointed Credit Suisse chief executive during its dying days in 2022 and stayed on in the role after UBS rescued the bank, had hoped to leave the business earlier but has been persuaded to stay until after the legal merger, according to people briefed on the discussions.
The combination of the two banks' holding companies will mean the Credit Suisse management board will become obsolete, including the role of chief executive.
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