'We did not buy Credit Suisse only to close it' - UBS CEO

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UBS's CEO Ralph Hamers on Monday said the Swiss bank sees its government-orchestrated takeover of Credit Suisse as a growth opportunity, in an internal memo seen by Reuters.

"While we did not seek this transaction, we were prepared, and we see it as an opportunity to accelerate our firm’s growth story," Hamers wrote. "We did not buy Credit Suisse only to close it.".

"While we did not seek this transaction, we were prepared, and we see it as an opportunity to accelerate our firm’s growth story," Hamers wrote. "We did not buy Credit Suisse only to close it."
 

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Wrong man at the wrong place

70% of Swiss think the takeover is a bad idea. Anyone in Switzerland who needs a business or personal loan, a mortgage, a good paying deposit account will soon find out why its a bad idea to allow a UBS takeover of CS.

We must have bought Credit Suisse so we could watch it slowly die.

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