Finance
Credit Suisse’s Last CEO Koerner to Leave UBS in Coming Weeks
- Koerner had been kept on to help oversee integration with UBS
- UBS targets legal merger with Credit Suisse by second quarter
This article is for subscribers only.
Credit Suisse Chief Executive Officer Ulrich Koerner is set to leave UBS Group AG in the coming weeks after the completion of the merger of the two former Swiss rivals, a person familiar with the matter said.
The Swiss government last year orchestrated a UBS takeover of Credit Suisse as it was teetering on the edge of collapse. Koerner, a veteran of Swiss banking with more than two decades at both Credit Suisse and UBS, had been brought in as CEO in July 2022 to try to turn the ailing firm around.