UBS chief attracts up Credit score Suisse management shortlist, FT says By Reuters

© Reuters. FILE PHOTO: Sergio Ermotti, newly rehired CEO of UBS Group AG attends a information convention in Zurich, Switzerland March 29, 2023. REUTERS/Stefan Wermuth/File Photograph

(Reuters) -UBS Group AG’s Chief Government Sergio Ermotti has shortlisted the Credit score Suisse Group AG’s executives most certainly to develop into a part of the administration group, the Monetary instances reported on Saturday, citing folks acquainted with the plans.

Dixit Joshi, chief monetary officer, Francesca McDonagh, chief working officer, and Andr√© Helfenstein, head of the Swiss enterprise, are most certainly to stay part of the Swiss financial institution’s government group, the report stated.

Credit score Suisse declined to touch upon the report. UBS didn’t instantly reply to Reuters’ request for a remark.

UBS in March agreed to take over its rival for 3 billion Swiss francs ($3.37 billion), assuming as much as 5 billion in losses as a part of a deal swiftly organized by Swiss authorities

Earlier this week, Ermotti stated UBS was engaged on closing its merger with Credit score Suisse by the top of Might or early June.

The financial institution can be reviewing choices for Credit score Suisse’s Swiss unit, together with conserving the unit’s funding banking operations whereas promoting the remaining, doubtlessly in an preliminary public providing, Reuters reported earlier this week.

($1 = 0.8910 Swiss francs)