Tag Archives: Credit Suisse UBS

When a bank run started at Credit Suisse in mid-March 2023, a rushed acquisition deal involving UBS, the Swiss National Bank and Swiss federal government was agreed. The deal, which includes CHF 109 billion of federal government guarantees, was agreed by the Federal Council, Switzerland’s executive. This week Switzerland’s parliament rejected the CHF 109 billion federal government guarantee included in the deal. © Zkk600 | Dreamstime.comThe rushed deal included the federal government...

When a bank run started at Credit Suisse in mid-March 2023, UBS already had a secret plan for a potential takeover of its competitor, according to Bloomberg. © Denis Linine | Dreamstime.comWhen UBS chairman Colm Kelleher joined UBS in 2022 he inherited a plan put together by the bank’s former chairman as early as 2020 on how Credit Suisse could be taken over. Kelleher built on the plan with help from a small group of bankers from Morgan Stanley, his former employer. According to...