2023-06-12 12:06:50
ZURICH, June 12 (Archyde.com) – UBS announced changes to the board of directors of Credit Suisse AG on Monday in an internal memo released following the Swiss bank announced it had officially closed the takeover of its former rival.
Chief financial officer Dixit Joshi and legal counsel Markus Diethelm are among the executives leaving the bank, wrote Ulrich Koerner, managing director of UBS’s new subsidiary Credit Suisse AG.
The memo also says Andre Helfenstein, Credit Suisse’s head of domestic business, will remain in the role.
Sergio Ermotti, who returned in April as chief executive of UBS, said around 10% of Credit Suisse staff had already left the group before the takeover.
“It is true that around 10% of the staff have already left the company in the last months before the takeover,” he said in an interview with the public television channel SRF.
The two banks jointly employ 120,000 people worldwide, but UBS has already announced plans to cut jobs to cut costs and take advantage of synergies.
(Report Noele Illien, French version Kate Entringer and Diana Mandiá, edited by Blandine Hénault)
1686572517
#UBS #announces #governance #Credit #Suisse
