UBS AG and Credit Suisse AG Receive Board Approval for Merger Agreement

Following the merger of the holding companies UBS Group AG and CS Group AG on 12 June 2023, the Board of Directors of UBS Group AG has approved the execution of a merger of UBS AG and Credit Suisse AG.

After gaining approval from their respective Boards, both organizations have entered into a definitive merger agreement. The completion of the merger is subject to regulatory approvals and is projected to be finalized in 2024.

Additionally, UBS continues to prepare for the planned merger of UBS Switzerland AG and Credit Suisse (Schweiz) AG also in 2024.

After years of scandal​ and losses, 167-year-old Credit Suisse came to the brink of collapse before Zurich-based rival UBS rode to the rescue with a merger engineered and bankrolled by the Swiss authorities in the first half of this year.

Fazzaco previously reviewed the entire situation in the article "Credit Suisse Turmoil Resurfaces: Uncovering the UBS and Credit Suisse Merger​".