UBS completes merger of UBS Switzerland and Credit Suisse (Schweiz)

Following the merger, Credit Suisse (Schweiz) will no longer exist as a separate entity.

UBS has completed the merger of UBS Switzerland AG and Credit Suisse (Schwiez) AG.

From today, Credit Suisse (Schweiz) AG has been deregistered from the Commercial Register of the Canton of Zurich and will no longer exist as a separate entity.

According to a statement, UBS Switzerland AG has succeeded all the rights and obligations of Credit Suisse (Schweiz) AG.

Read more: UBS’ Credit Suisse takeover: what you need to know

The Swiss entities being merged allows for the migration of clients and operations from Credit Suisse (Schweiz) AG to the UBS platform, following business, client- and product-specific requirements.

“The completion of the Swiss entities’ merger marks an important milestone in the integration of UBS and Credit Suisse. The migration of the majority of client transactions in Switzerland to the UBS platform will take place in 2025 and will be gradual, with tailored updates to our clients,” said Sabine Keller-Busse, president of UBS Switzerland.

“As the integration progresses, our clients will be able to access the capabilities and support of the combined firm. We will continue to focus on providing our clients with comprehensive services to achieve their financial goals and acting as a strong pillar of economic support in Switzerland.”

Read more: UBS agrees landmark takeover of Credit Suisse after intervention from Swiss authorities

Despite Credit Suisse (Schweiz) AG clients becoming clients of UBS Switzerland AG as part of the merger, they will for an interim period interact with UBS using existing Credit Suisse platforms and tools, except as specifically communicated.

André Helfenstein, chief executive of Credit Suisse (Schweiz) AG, has decided to leave the bank following the merger.

”Since the acquisition of Credit Suisse by UBS, André has made a substantial contribution to the stabilisation of Credit Suisse’s business and has been committed to our clients and our employees throughout,” added Keller-Busse.

“We thank him for his commitment and dedication and wish him all the best and success in his next steps.”