Think we can all agree there are certainly some benefits for UBS acquiring CS WM/AM businesses (of course some clients already made the switch).
However — we see now that UBS is potentially requesting a Swiss backstop. The only business that would need a backstop is the IBD of CS. Are they merging the two? How are there any benefits whatsoever for UBS to take CS’ IBD? Why wouldn’t they just leave it be?
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CS IBD is better than UBS” tho
Of course it is. UBS’ recent strategy has been to lower risk of IBD and focus on WM. Buying CS IBD takes several steps backwards
Right. Wonder what’ll happen to the IBD which is due for the carveout this year
Bloomberg reporting that right now CS IB is a key hurdle in the deal.
UBS should just acquire all of CS and let Klein run the combined IBD under CSFB. Seems like a win win for both
UBS may buy all of CS and axe the IBD.
What will the combined bank be called?
UBS
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