UBS announced today that it expects to complete the merger of UBS AG and Credit Suisse AG on May 31, 2024, subject to remaining regulatory approvals.
The transition to a single US intermediate holding company is planned for the second quarter of 2024, and the merger of Credit Suisse (Schweiz) AG and UBS Switzerland AG continues to be planned for the third quarter of 2024, both also subject to pending regulatory approvals .
These critical milestones will facilitate the migration of clients to UBS platforms starting later this year and will unlock the next phase of cost, capital, financing and tax benefits from the second half of 2024 and through the end of 2025 to 2026.
The merger of the holding companies UBS Group AG and CS Group AG closed on June 12, 2023.
UBS announced plans to acquire Credit Suisse in March 2023. The combination creates a business with more than $5 trillion in total invested assets and sustainable value opportunities. It will further strengthen UBS’s position as the leading Swiss-based global wealth manager with more than $3.4 trillion in invested assets on a combined basis, operating in the most attractive growth markets.