Axel Weber wish list for a merger

UBS is expected to play a major role in world banking again. The Chairman of the Board of Directors, Axel Weber, wants to achieve this through a merger with another European institute.

Rumors that emerged last week about strategic considerations at UBS for a major acquisition persist. Over the weekend, both the Bloomberg news agency and the Sonntagszeitung (both paid articles) reported on potential acquisition targets.

These are by no means exhausted with local competitor Credit Suisse (CS). Deutsche Bank, Commerzbank, French BNP Paribas and Société Générale were also mentioned, as well as Barclays and Lloyds Bank in Great Britain.

Wish: European champion

In the reports there is a “wish list” of the Chairman of the Board of Directors Axel weber speech. He wanted to fight for a merger with a bank similar to UBS to build a “European champion” that could compete with the big US banks, especially in investment banking.

Of course, this is a “wish” of the president of UBS, Weber. The merger with one of the banks mentioned is currently a possible future strategy that does not appear to be fully developed. First exploratory talks with CS and, in particular, the Chairman of the Board of Directors Urs Rohner They have taken place.

Not a problem a year ago

However, CS should not be prepared for such an important project. And even within UBS, Weber, who will be president until 2022, is said to have not found many supporters for a merger.

In recent years, consulting firms and financial policy circles have repeatedly mentioned major mergers and acquisitions in European banking as a way to bring back the European banking system, which suffers from overcapacity.

A year ago, Weber had ruled out UBS taking an active role in a possible bank consolidation in Europe.

Neither bank wanted to officially comment on the reports.