Deals
UBS, Credit Suisse Oppose Idea of Forced Tie-Up
- Swiss lenders aim to pursue separate strategies, avoid overlap
- Scenario planning for forced tie-up and CS breakup continues
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UBS Group AG and Credit Suisse Group AG are opposed to a forced combination, even as scenario planning for a government-orchestrated tie-up continues, according to people with knowledge of the matter.
UBS would prefer to focus on its own wealth-centric standalone strategy and is reluctant to take on risks related to Credit Suisse, the people said, asking not to be identified as the deliberations are private. Its smaller rival is seeking time to see through its turnaround after winning a liquidity backstop from the central bank, they said.