ZURICH, March 25 (Reuters) – The combination workforce tasked with merging Switzerland’s two largest banks is to be headed by UBS’s (UBSG.S) chief expertise officer and Credit score Suisse’s (CSGN.S) chief working officer, the Tages-Anzeiger newspaper reported on Saturday.
Mike Dargan, who has been with UBS for 7 years, and Francesca McDonagh, who joined Credit score Suisse final September, shall be tasked with unifying the 2 banks.
It’s unclear when the merger shall be accomplished.
UBS has agreed to purchase Credit score Suisse for 3 billion Swiss francs ($3.26 billion) in inventory and to imagine as much as 5 billion francs ($5.44 billion) in losses, in a merger engineered by Swiss authorities.
($1 = 0.9199 Swiss francs)
Reporting by Noele Illien; enhancing by Jason Neely
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