UBS clear winner in Credit Suisse saga, says GlobalData

Following the news that Credit Suisse and UBS have entered into a merger agreement;

Aurojyoti Bose, Lead Analyst at GlobalData, a leading data and analytics company, offers his view:

“The merger comes at a time of increasing pressure on traditional banking models. In what is being largely seen as a rescue deal for Credit Suisse and an emergency move by authorities to prevent any further financial woes, UBS emerges as a big winner in many ways.

“The transaction will result in the creation of a global wealth manager with around $5 trillion in total invested assets. The move also fits well with UBS’ business growth strategies in Asia, Americas and Europe. According to the terms of the agreement, subsequent to the closing of the merger transaction, UBS will be the surviving entity.

“The deal follows the fall of Silicon Valley Bank, Signature Bank, and Silvergate Capital and could be seen a prompt response by authorities to prevent any further panic that could invite trouble for more financial turmoil. While it remains to be seen if this move is enough to restore confidence in the market, UBS seems to be the key beneficiary in the entire Credit Suisse saga.”

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