At its annual shareholder meeting, UBS chair Colm Kelleher said UBS’s (UBS) takeover of Credit Suisse (CS) was a "milestone" for the industry but would entail "significant execution risks," Sam Jones of The Financial Times reports. Kelleher said the acquisition of UBS’s biggest rival would accelerate the bank’s existing strategy, but, at the same time, warned this "is not in any way an easy deal to do," according to the Times. Kelleher continued saying, "…we will build on the strength of both firms… we will continue to expand our position as the leading wealth manager." Reference Link
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on UBS:
- Bank of England clears UBS-Credit Suisse deal in U.K., Reuters says
- Credit Suisse chairman apologizes to shareholders, Bloomberg reports
- Deutsche Bank Shares: Ditching the Crisis or Still Vulnerable?
- Large Layoffs to Follow UBS’s Takeover of CS
- Swiss prosecutors probe takeover of Credit Suisse by UBS, WSJ reports