Could 6 (Reuters) – UBS Group AG’s (UBSG.S) Chief Govt Sergio Ermotti has shortlisted the Credit score Suisse Group AG’s (CSGN.S) executives more than likely to change into a part of the administration workforce, the Monetary occasions reported on Saturday, citing individuals conversant in the plans.
Dixit Joshi, chief monetary officer, Francesca McDonagh, chief working officer, and André Helfenstein, head of the Swiss enterprise, are more than likely to stay part of the Swiss financial institution’s government workforce, the report mentioned.
Credit score Suisse declined to touch upon the report. UBS didn’t instantly reply to Reuters’ request for a remark.
UBS in March agreed to take over its rival for 3 billion Swiss francs ($3.37 billion), assuming as much as 5 billion in losses as a part of a deal unexpectedly organized by Swiss authorities
Earlier this week, Ermotti mentioned UBS was engaged on closing its merger with Credit score Suisse by the tip of Could or early June.
The financial institution can be reviewing choices for Credit score Suisse’s Swiss unit, together with protecting the unit’s funding banking operations whereas promoting the remainder, probably in an preliminary public providing, Reuters reported earlier this week.
($1 = 0.8910 Swiss francs)
Reporting by Rahat Sandhu in Bengaluru
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