Switzerland’s new megabank is bad news for Swiss bankers
The end of the 167-year-old institution will also be the end of many careers
At a press conference in Bern on March 19th the chairmen of Credit Suisse and ubs, the two great rivals of Swiss banking, announced a momentous but unhappy union. After days of haggling, and years of creeping despair, regulators tried to avert crisis by rushing through a tie-up of banks with combined assets worth twice as much as Switzerland’s gdp.
This article appeared in the Finance & economics section of the print edition under the headline “United Banks of Switzerland”
Finance & economics March 25th 2023
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- Switzerland’s new megabank is bad news for Swiss bankers
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- The battle for Europe’s economic soul
- America’s banks are missing hundreds of billions of dollars
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