UBS chair warns of ‘execution risks’ with Credit Suisse deal, FT reports

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