Swiss bank UBS completes merger with Credit Suisse's Swiss operations, takes over rights/obligations, CEO Helfenstein departs.

Swiss bank UBS has finalized the merger of its domestic unit with Credit Suisse's Swiss operations, taking over all rights and obligations. Credit Suisse Switzerland's CEO, Andre Helfenstein, will depart the bank following the merger. The integration process aims to ease migration of clients and operations to the UBS platform, with major Swiss client transactions expected to transition in 2025.