UBS has begun the process of changing the Credit Suisse brand – Kommersant
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UBS has begun changing signs at the international branches of the Credit Suisse it bought, which sources say Financial Times (FT), indicates “the beginning of the process of destruction of the international brand Credit Suisse”. The sign at the bank’s US headquarters in New York has already been replaced, now it reads: “Credit Suisse AG, a company of the UBS Group.” According to sources, UBS plans to replace this sign with its own logo in the coming months. According to the FT, in the near future the same thing could happen with a sign at the British head office of Credit Suisse in London.
UBS announced on the purchase of Credit Suisse for $2 billion in March of this year. Prior to this, numerous problems were reported by Credit Suisse. In June, UBS completed the takeover of a competitor. At the same time, it was noted that Credit Suisse will retain the brand, separate management, subsidiaries, etc. In July, the Swiss newspaper NZZ am Sonntag wrotethat the management of UBS has made a decision in principle on the complete takeover of Credit Suisse, which involves the liquidation of the brand of the latter.
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