Final Credit Suisse CEO, Ulrich Korner, to leave UBS, FT reports
2024.05.06 00:55
(Reuters) – Ulrich Korner, the final CEO of Credit Suisse, is set to leave UBS in the coming weeks, the Financial Times reported on Monday.
UBS took over Credit Suisse in a government-backed rescue last year in what was the biggest merger of banks of systemic importance since the 2007-2009 financial crisis.
Korner, who was appointed CEO of Credit Suisse during turbulent times in 2022, joined the board of UBS after the takeover.
UBS is working to complete the merger of its legal entities with those of Credit Suisse by late May, the Financial Times said, citing people familiar with the plans.
The combination of the two banks’ holding companies will mean the Credit Suisse management board will become obsolete.
UBS did not immediately respond to a Reuters’ request for comment.
