MADRID, 6 May. (EUROPA PRESS) –
Ulrich Korner, last CEO of Credit Suisse, absorbed by its rival in March 2023, will leave the Swiss bank in the coming weeks, according to ‘Financial Times’.
UBS expects to complete the merger of the bank’s legal entities with those of Credit Suisse by the end of May, according to knowledgeable sources, which will make the role of Credit Suisse’s board of directors, including the role of CEO, obsolete.
Korner took over as CEO of Credit Suisse in August 2022, taking over from Thomas Gottstein following the Swiss bank’s multi-billion-dollar losses. The executive’s departure and the dissolution of the Credit Suisse holding company mark the latest chapter in the bank’s 168-year history.
The banker had joined Credit Suisse a year earlier, precisely from UBS, where he worked for eleven years, and had previously held various executive positions at Credit Suisse, including CFO and COO of Credit Suisse Financial Services.
Under the integration plan outlined in February by UBS CEO Sergio Ermotti, the Swiss entities will merge in the second half of the year, while Credit Suisse clients will continue to migrate to UBS over the next year and the Final part of the integration, the merger of IT systems, will extend until 2026.
