UBS to Dispose of Risky Credit Suisse Loans to Asian Clients
- Bank to place most structured APAC loans into wind-down unit
- UBS seeking to reduce risks from Credit Suisse legacy business
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UBS Group AG is planning to exit billions of dollars in loans to Credit Suisse’s clients in the Asia Pacific region, as the Swiss bank works to neutralize risks to its profitability and reputation from the defunct lender.
The bank intends to either wind-down or sell off the majority of Credit Suisse’s more complex and higher-risk structured loans in APAC, people familiar with the matter said.