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UBS Group announced on Tuesday that Credit Suisse CEO will join the executive board of the combined group once acquisition is done.
“With his knowledge of both organizations, he will be responsible for ensuring Credit Suisse’s operational continuity and client focus,” UBS said.
UBS has acquired Credit Suisse last March after the latter’s losses reached $7.9 billion in the past year only. Ulrich Koerner has been in charge of Credit Suisse since July 2022.
UBS also confirmed the two entities will continue to operate its own subsidiaries and branches. In the meanwhile, the executive board will be responsible for the joint group.
