UBS veteran boss Ermotti may have pulled off the deal of the decade with the Credit Suisse rescue

After negotiations in March 2023, UBS agreed to acquire Credit Suisse. Initially, there were concerns about the complexity of the deal and UBS’s ability to turn around Credit Suisse’s investment banking business. However, sentiment has changed over the past 18 months. The merger is progressing as planned, and UBS’s leadership has been commended for their ambitious approach. UBS has completed the merger of parent companies and is expected to wrap up the entire process in 2026. Concerns about the merger have dissipated, with analysts focusing on business performance and cost savings. However, there are ongoing challenges, including addressing Credit Suisse’s lack of sustainable profitability and potential new capital requirements. Despite these challenges, the progress made so far is being celebrated.