The chief executive of UBS has insisted this morning that his bank can handle the takeover of Credit Suisse.
Ralph Hamers told broadcaster SRF that UBS could handle the risks of combining with Credit Suisse.
Hamers said (via Reuters): “We have a very good capital ratio at UBS, and we also have a very good liquidity position. So we have contained the risks in the markets.
“The second step for us is to transform CS’s investment bank into an investment bank like UBS has. We call this a capital-light investment bank. In doing so, we are not taking so much risk.”
Hamers did not have any information about potential lay-offs at Credit Suisse, saying that there are no definite plans at present.
“There are certainly opportunities and chances for growth.
The many employees – CS has 50,000 worldwide – also have a new future together with us. And together we can build an even more beautiful bank.”