UBS Poised to Absorb Credit Suisse Domestic Bank, Drop Brand
- Widely-anticipated step likely announced around end August
- UBS executives had considered spin-off of domestic unit
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UBS Group AG is poised to decide in favor of fully integrating Credit Suisse’s domestic bank, ending months of speculation about the future of the business.
The Zurich-based lender has set a target of winding down the Credit Suisse brand in the country, people familiar with the matter said. Executives are preparing for an announcement as soon as the end of this month, the people said, who asked not to be named discussing private details.