167-year-old Credit Suisse
It marks a radical twist of fate for the banks. During the great financial crash, it was UBS and not Credit Suisse that needed state support. “In the past, when a deal between Credit Suisse and UBS was discussed, a sticking point would be concentration, especially in the domestic market,” said Morningstar’s Scholtz. “It is also the most stable part of the business, that generates quite a lot of cash. If UBS is not required to do an IPO of it, it could make sense for them to keep it, there are lots of synergies.”
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