Credit Suisse Takeover Will Turn UBS Into Wealth Management ‘Powerhouse,’ JPMorgan Says
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UBS Group AG’s $3.3 billion acquisition of rival Credit Suisse Group AG will transform it into a banking juggernaut at a bargain price, JPMorgan analysts said Tuesday.
The deal is set to turn UBS into a wealth management “powerhouse” with “one of the most attractive business models in global banking,” the analysts led by Kian Abouhossein said in a research note. Meanwhile, the price paid is “attractive” for UBS even after factoring in potential losses on Credit Suisse assets, litigation costs and restructuring expenses, they said.