ZURICH, March 18 (Reuters) - UBS said on Wednesday it had completed the migration of former Credit Suisse clients in Switzerland onto its platforms, another major milestone in the bank's integration
UBS Finalizes Integration with Credit Suisse, Migrates Swiss Clients
UBS Completes Client Migration and Advances Integration Process
Milestone Achieved in UBS-Credit Suisse Integration
ZURICH, March 18 (Reuters) - UBS said on Wednesday it had completed the migration of former Credit Suisse clients in Switzerland onto its platforms, another major milestone in the bank's integration of its former rival, which it acquired in 2023.
Global Client Transfer Details
UBS CEO Sergio Ermotti said that with the step, the bank had transferred around 1.2 million clients globally.
Future Steps and Strategic Impact
"There is still much work to be done to complete the integration, but the end of the client migration strengthens UBS' franchise and lays the groundwork for delivering an even broader and more seamless offering to all clients," he said.
Financial Implications and Platform Decommissioning
UBS CFO Todd Tuckner said on Wednesday the completion of the client migration would allow the bank to undertake the last stage of the integration, decommissioning the entire Credit Suisse platform, a step that would save it a lot of money.
(Writing by Dave Graham, Editing by Miranda Murray)
