The takeover should be completed in the next few days.
(Photo: IMAGO/Future Image)
Bangalore According to an agency report, the major Swiss bank UBS wants to expand its Asia business with the help of CS employees after taking over Credit Suisse (CS). The bank is in advanced talks to acquire more than 100 investment bankers in locations including South Korea, Thailand, Vietnam and India, Bloomberg reported on Sunday, citing people familiar with the matter. The final number depends on the regulators.
UBS did not immediately respond to a Reuters request for comment. CS declined to comment.
In May, insiders reported that employees, especially in investment banking and in the Asia-Pacific and America regions, wanted to leave the group because of uncertain job prospects. According to earlier UBS information, the takeover announced in March should be completed in the coming days.
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