Might 6 (Reuters) – UBS Group AG’s (UBSG.S) Chief Government Sergio Ermotti has shortlisted the Credit score Suisse Group AG’s (CSGN.S) executives most probably to grow to be a part of the administration group, the Monetary instances reported on Saturday, citing individuals aware of the plans.
Dixit Joshi, chief monetary officer, Francesca McDonagh, chief working officer, and André Helfenstein, head of the Swiss enterprise, are most probably to stay part of the Swiss financial institution’s government group, the report mentioned.
Credit score Suisse declined to touch upon the report. UBS didn’t instantly reply to Reuters’ request for a remark.
UBS in March agreed to take over its rival for 3 billion Swiss francs ($3.37 billion), assuming as much as 5 billion in losses as a part of a deal rapidly organized by Swiss authorities
Earlier this week, Ermotti mentioned UBS was engaged on closing its merger with Credit score Suisse by the tip of Might or early June.
The financial institution can also be reviewing choices for Credit score Suisse’s Swiss unit, together with conserving the unit’s funding banking operations whereas promoting the remainder, doubtlessly in an preliminary public providing, Reuters reported earlier this week.
($1 = 0.8910 Swiss francs)
Reporting by Rahat Sandhu in Bengaluru
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