UBS, a multinational investment bank and financial services company, completed the acquisiton of Credit Suisse, a global investment bank and financial services firm founded and based in Switzerland, for CHF3bn. “Today we have achieved a significant milestone in our integration journey. The merger of our parent banks is critical to facilitating the migration of clients onto UBS platforms. It will also unlock the next phase of cost, capital, funding and tax benefits from the second half of 2024. As we embark on this transitional phase of operational consolidation, we will remain focused on serving our clients, following through on our strategy, investing in our people, and acting as a pillar of economic support in the communities where we live and work.,” Sergio P. Ermotti, UBS CEO.