Logos of Swiss banks Credit Suisse and UBS are seen before a news conference in Zurich Switzerland, August 30, 2023. REUTERS/Denis Balibouse/File Photoon Friday said it will overhaul the board of its domestic Swiss business after its takeover of Credit Suisse, including a new chairman to oversee both operations.
He will replace Markus Ronner, who was chairman of UBS Switzerland since 2022, and Peter Derendinger, who served as chairman of the board of directors of Credit Suisse AG since March 2019. The move is designed to ensure "closely coordinated supervision" of the two Swiss banks, which are expected to complete their legal merger next year.it planned to integrate Credit Suisse's domestic business into its existing operations after its emergency takeover of its fallen rival this year.