UBS completes merger of UBS and Credit Suisse parent companies

ZURICH, May 31 (Reuters) – Swiss bank UBS (UBSG.S), opens new tab said on Friday it had completed the merger of the main parent companies of the Swiss lender and its longtime rival Credit Suisse, which it acquired last year.

“The completion of the merger within the expected timeline was facilitated by the strong support from regulators across the globe,” UBS said in a statement.

The parent merger is expected to allow the Swiss bank to get started with trickier stages of the integration such as combining IT systems, migrating clients from Credit Suisse and cutting the enlarged bank’s workforce of more than 110,000.

Source: REUTER