Merger of UBS AG and Credit Suisse AG set to be completed on 31 May 2024
UBS announced today that it expects to complete the merger of UBS AG and Credit Suisse AG on 31 May 2024, subject to remaining regulatory approvals.
The transition to a single US intermediate holding company is planned for the second quarter of 2024, and the merger of Credit Suisse (Schweiz) AG and UBS Switzerland AG continues to be planned for the third quarter of 2024, both also subject to remaining regulatory approvals.
These critical milestones will facilitate the migration of clients onto UBS platforms beginning later this year, and unlock the next phase of the cost, capital, funding and tax benefits from the second half of 2024, and by the end of 2025 and into 2026.
The merger of the holding companies UBS Group AG and CS Group AG closed on 12 June 2023.
UBS announced its plans to acquire Credit Suisse in March 2023. The combination creates a business with more than USD 5 trillion in total invested assets and sustainable value opportunities. It will further strengthen UBS’s position as the leading Swiss-based global wealth manager with more than USD 3.4 trillion in invested assets on a combined basis, operating in the most attractive growth markets.