UBS (UBS) has completed the acquisition of Credit Suisse (CS), the bank announced. Credit Suisse Group AG has been merged into UBS Group AG and the combined entity will operate as a consolidated banking group. Credit Suisse Group AG ADS will no longer be traded on the New York Stock Exchange. Colm Kelleher, UBS Group AG Chairman, said: “I’m pleased that we’ve successfully closed this crucial transaction in less than three months, bringing together two global systemically important banks for the first time. We are now one Swiss global firm and, together, we are stronger. As we start to operate the consolidated banking group, we’ll continue to be guided by the best interests of all our stakeholders, including investors. Our top priority remains the same: to serve our clients with excellence.”
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on UBS:
- Here’s What UBS Acquisition Means for Credit Suisse Bankers
- Credit Suisse (NYSE:CS) Explores Sale of China Securities JV
- UBS-CS Merger: Good News for Credit Suisse’s Asian Bankers
- Credit Suisse Abandons Strategy for Domestic Banking in China
- UBS considered possible Credit Suisse deal as early as December, Reuters reports
