Insta downloader private4/30/2023 ![]() ![]() Credit Suisse employees are being welcomed, but not universally. ![]() UBS's communications on Credit Suisse jobs are more revelatory. "The implication is that it's business as usual for the next few months, although no one really knows what's going on," one Credit Suisse managing director tells us.Ĭredit Suisse's press release relating to the merger confirms that the deal is not expected to close until the end of 2023, and states that, "u ntil consummation of the merger, Credit Suisse will continue to conduct its business in the ordinary course and implement its restructuring measures in collaboration with UBS." The release adds that," UBS has expressed its confidence that the employment of the staff of Credit Suisse will be continued." However, it also says that " UBS is expected to appoint key personnel to Credit Suisse as soon as legally possible," which doesn't sound promising for senior UBS bankers. Senior insiders at Credit Suisse say they've had no news beyond an email which suggests the UBS deal won't close until next year. And, most particularly, what happens to Michael Klein's plan to spin out most of the investment bank in the form of Credit Suisse First Boston? Credit Suisse bankers in the dark about their jobs The real question now though is what happens to Credit Suisse jobs, particularly at the investment bank. Credit Suisse bankers and traders will still lose money on their deferred bonuses, but those losses will be limited to around CHF300m instead of the CHF600m they would have foregone at the initial offer of CHF0.25 a share. UBS is acquiring Credit Suisse for CHF0.50 a share.
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |