UBS agrees to buy Credit Suisse for $3.3bn

International support

Eve Maddock-Jones
clock • 3 min read

UBS has agreed to buy stricken rival Credit Suisse for $3.3bn, following a long weekend of negotiations with the Swiss government and regulators.

The deal was agreed yesterday (19 March), concluding five days of frantic talks between the banks and authorities, after it became clear that Credit Suisse's market decline was snowballing, putting the country's second biggest lender at risk. Credit Suisse's most recent troubles began last week (14 March) after its delayed annual report revealed it had "material weaknesses" in its internal controls over financial reporting and risk assessments in the prior two years. This followed months of reporting on various scandals affiliated with the firm, which had negatively impacted its profi...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Companies

Liontrust outsources UK trading team to BNY

Liontrust outsources UK trading team to BNY

Bolsters trading beyond UK hours

Sorin Dojan
clock 09 June 2025 • 1 min read
Firms with £500bn in AUM pledge to remove barriers for underrepresented groups in DE&I statement

Firms with £500bn in AUM pledge to remove barriers for underrepresented groups in DE&I statement

UK government seeking views on pay gaps

Patrick Brusnahan
clock 06 June 2025 • 1 min read
Year of two halves for Ninety One as it records year-end losses

Year of two halves for Ninety One as it records year-end losses

Deal with Sanlam 'on track'

Patrick Brusnahan
clock 04 June 2025 • 1 min read
Trustpilot