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UBS aims to close  Credit Suisse deal by end of May, early June

UBS CEO Sergio Ermotti stated that the Swiss bank is working to complete its merger with Credit Suisse by the end of May or early June.

All options concerning Credit Suisse's Swiss business are still on the table, according to Ermotti.

The possibility of spinning off Credit Suisse's domestic unit has been raised, with Andre Helfenstein expected to lead it.

The idea of a spin-off was initially ruled out by UBS but was reconsidered due to public and political pressure.

It is too early to determine how many jobs will be cut as a result of the merger.

Ermotti acknowledged that job cuts would be unavoidable.

Ermotti spoke at the Finanz '23 conference in Zurich.

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