🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

UBS chief draws up Credit Suisse leadership shortlist, FT says

Published 05/06/2023, 05:14 AM
Updated 05/06/2023, 05:50 AM
© Reuters. FILE PHOTO: Sergio Ermotti, newly rehired CEO of UBS Group AG attends a news conference in Zurich, Switzerland March 29, 2023. REUTERS/Stefan Wermuth/File Photo
UBSG
-

(Reuters) -UBS Group AG's Chief Executive Sergio Ermotti has shortlisted the Credit Suisse Group AG's executives most likely to become part of the management team, the Financial times reported on Saturday, citing people familiar with the plans.

Dixit Joshi, chief financial officer, Francesca McDonagh, chief operating officer, and André Helfenstein, head of the Swiss business, are most likely to remain a part of the Swiss bank's executive team, the report said.

Credit Suisse declined to comment on the report. UBS did not immediately respond to Reuters' request for a comment.

UBS in March agreed to take over its rival for 3 billion Swiss francs ($3.37 billion), assuming up to 5 billion in losses as part of a deal hastily arranged by Swiss authorities

Earlier this week, Ermotti said UBS was working on closing its merger with Credit Suisse by the end of May or early June.

© Reuters. FILE PHOTO: Sergio Ermotti, newly rehired CEO of UBS Group AG attends a news conference in Zurich, Switzerland March 29, 2023. REUTERS/Stefan Wermuth/File Photo

The bank is also reviewing options for Credit Suisse's Swiss unit, including keeping the unit's investment banking operations while selling the rest, potentially in an initial public offering, Reuters reported earlier this week.

($1 = 0.8910 Swiss francs)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.