UBS has announced the successful completion of migrating former Credit Suisse clients in Switzerland onto its banking platforms. This marks a significant milestone in the ongoing integration of Credit Suisse, which UBS acquired in 2023. UBS is a global financial services firm providing wealth management, asset management, and investment banking services. With this integration, it aims to create a stronger, more diversified financial institution.
According to UBS CEO Sergio Ermotti, the migration encompassed approximately 1.2 million clients globally. Ermotti stated that while further integration work remains, completing the client migration fortifies UBS’s market position. He added that it establishes a foundation for delivering a more comprehensive and integrated service offering to all clients.
UBS CFO Todd Tuckner noted that finalising the client migration enables the bank to proceed with decommissioning the Credit Suisse platform. Tuckner explained that retiring the Credit Suisse platform represents the final stage of the integration process and is expected to generate substantial cost savings for the combined entity. The decommissioning of the Credit Suisse platform is anticipated to streamline operations and improve efficiency across the organisation.
