Rivals eye Swiss riches after Credit Suisse failure

Credit Suisse’s domestic bank was arguably the failed group’s best and strongest division. One year after the rescue, UBS is not the only one trying to feast on its domestic wealth-management and corporate-banking leftovers. Other Swiss and international players also hope to benefit from the longer-term fallout in Switzerland. Will the rush to pick up the remnants of the fallen champion pay off?

Whether or not the disappearance of one of Switzerland’s two national banking champions was a good thing for the long-term health of the country’s banking sector will remain a debate for years to come. For the one that survived, however, the answer is less in doubt.

What UBS could do with Credit Suisse’s valuable domestic business was one of the key questions facing Sergio Ermotti when he returned as UBS chief executive in March 2023.

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