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. "This acquisition is attractive for UBS shareholders but, let us be clear, as far as Credit Suisse is concerned, this is an emergency rescue. We have structured a transaction which will preserve the value left in the business while limiting our downside exposure. Acquiring Credit Suisse’s capabilities in wealth, asset management and Swiss universal banking will augment UBS’s strategy of growing its capital-light businesses. The transaction will bring benefits to clients and create long-term sustainable value for our investors," Colm Kelleher, UBS Chairman.