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UBS to take in Credit Suisse CEO as merger closes in 2 weeks

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GENEVA (AP) — UBS says it’s bringing the CEO of Credit Suisse on to its executive board and will keep the two banks operating separately “for the foreseeable future” as it moves forward with a high-profile merger expected to close within two weeks. The two Zurich-based banks, longtime rivals, are uniting in a $3.25 billion deal hastily arranged in March by Swiss government officials and regulators. The deal was struck after Credit Suisse’s stock tumbled and jittery depositors quickly pulled out their money.

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The Associated Press

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