UBS completes migration of Credit Suisse clients in Switzerland

UBS has completed the migration of Swiss-booked clients of Credit Suisse, which it took over in 2023. The bank has now completed the migration of all former Credit Suisse clients to UBS infrastructure globally, it said on Wednesday. +Get the most important news from Switzerland in your inbox A total of around 1.2 million clients worldwide have been transferred to the UBS infrastructure. In a statement released on Wednesday, UBS CEO Sergio Ermotti described it as "one of the most complex integrations in banking history". Payment volume increases by a quarter UBS said it had reached a key milestone in the integration of Credit Suisse which it took over in 2023. The integration increased payment volumes on the UBS platform by around 25% to almost 3.1 million transactions per day. Since the takeover, UBS has implemented the integration gradually. Important steps such as the merger of the parent companies and the Swiss units were completed in summer 2024. For the migration procedure ...