Business
$7 trillion giant: UBS exploring mega-merger with Credit Suisse – Sydney Morning Herald
UBS chairman Axel Weber has been studying the feasibility of a mega-merger with rival Credit Suisse that would create a Swiss banking giant.
“Regulation would be the biggest hurdle in my eyes” because requirements are tougher the larger an institution is, Venditti said, adding he doesn’t think a deal is likely.
Back-office talks
Shares of Credit Suisse rose 4.2 per cent and UBS gained 2.2 per cent.
Weber’s planning exercise comes as UBS is in the middle of a leadership transition, while Credit Suisse just completed one. The two rivals have been assessing the possibility of combining back-office functions for some time to cut costs…
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