Two days after UBS agreed to spend $3.25bn to rescue its rival Credit Suisse, executives have started trying to move past the risks and sell investors on the benefits of the shotgun marriage.
Chief executive Ralph Hamers told the Financial Times that the deal was “not simply about bringing two companies together” but about “how we can build a bigger UBS”.
The rescue, which will create the world’s fourth-largest bank by assets — with 120,000 staff and $5tn in assets — has raised concerns that it might be an unwelcome distraction for UBS executives.
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