The management of Switzerland’s largest bank UBS is considering the possibility of reducing its staff by 30% following the takeover of Credit Suisse, the country’s second largest credit institution by capitalization. Against this background, representatives of the Federal Prosecutor’s Office have already launched an investigation to gather information about possible crimes in the merging of the two financial structures. informs Bloomberg agency.
“The Swiss Attorney General has launched an investigation to gather information about possible crimes that may have taken place in the takeover of UBS Group AG by Credit Suisse Group AG. An agreement signed last month could cut the total workforce by 30%, with 11,000 layoffs in Switzerland and 25,000 worldwide.
At the same time, representatives of the Swiss Federal Prosecutor’s Office did not disclose “numerous aspects” of possible violations in the merger of UBS and Credit Suisse. The investigation is currently ongoing, writing.
April 4 Martin Schlegel, Vice-President of the Swiss National Bank declarationThat the takeover of Switzerland’s second-largest bank Credit Suisse (CS) by UBS, the country’s largest credit institution, helped prevent not only the eventual collapse of CS, but also the global financial crisis. Otherwise, not only the reputation of the local financial center, but the entire world economy may suffer.