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Rumors continue to circulate that the two big banks, UBS and CS, want to merge. This time, the finance portal “Inside-Paradeplatz” made the point clear: UBS board of directors Axel Weber is planning a merger with CS president Urs Rohner. According to the report, the merger should be agreed in early 2021 and, by the end of 2021, Switzerland would have a new financial giant.
UBS and CS declined to comment on the speculation at the request of the AWP news agency. “Necessity makes merger,” however, a market observer commented on the speculation.
A UBS spokesperson only says: “The article is a replay of rumors and new confusing statements that we do not comment on.” And: “Axel Weber has always been committed to the Swiss financial center and has campaigned in national and international organizations for the benefit of the national market and the UBS headquarters in Switzerland. Any other claim is simply false and unfounded. “
Roche boss against merger
Today the portal intensifies: Axel Weber’s “Signal” operation will be put on the table this week at the UBS board of directors at the bank’s own conference center in Wolfsberg. The UBS chairman’s merger plans would meet fierce resistance from the boards of the two big banks. First, Roche boss Severin Schwan, vice president of CS, should be against it.
According to one source, many in the two corporate managements that are responsible for the operations are also against the Weber coup. The reason: several cadres would have to fear for their high remuneration, according to “Inside-Paradeplatz”.
Threat to walk away
Particularly explosive: During talks with high-ranking politicians in Bern, including Deputy Finance Minister Ueli Maurer and Mark Branson, director of Finma’s Financial Market Authority, Weber is said to have threatened UBS to leave.
Specifically: the bank would move its headquarters from Switzerland to Frankfurt (D); the German banking center is also known as “Mainhattan”. This would be devastating for the Swiss financial center.
Experts are skeptical
Experts don’t think much about a possible merger. Banking expert Manuel Ammann (50) of the University of St. Gallen: “The rumor about a merger of UBS and CS comes up regularly,” Ammann tells BLICK. It’s hard to know what’s behind the rumor. “It is difficult for me to understand the industrial logic of such a merger. From my point of view, that doesn’t make sense. “(Pbe)
Dear readers, what do you think of the possible merger and the desire to emigrate to Germany? Leave your opinions in the comments.
