UBS has completed the merger of UBS Switzerland AG and Credit Suisse (Schweiz) AG, with the latter now deregistered from the Commercial Register of the Canton of Zurich and no longer existing as a separate entity.
Clients and operations of Credit Suisse (Schweiz) AG will now migrate to the UBS platform, in line with business, client, and product-specific requirements. During an initial interim period, they will continue to use Credit Suisse platforms and tools to interact with UBS.
André Helfenstein, CEO Credit Suisse (Schweiz) AG, is stepping down following the merger after more than 16 years with the firm.
Sabine Keller-Busse, president of UBS Switzerland, commented: “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.
“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.”
On Helfenstein’s departure, she added: ”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. We thank him for his commitment and dedication and wish him all the best and success in his next steps.”
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