Bloomberg Law
March 26, 2023, 11:13 AM

Over 80% of Swiss Want UBS Spinoff of Credit Suisse Bank: Poll

Hugo Miller
Hugo Miller
Bloomberg News

Just over four in five Swiss want to see UBS Group AG spin off Credit Suisse Group AG’s domestic bank to ensure healthy competition in Swiss retail banking, according to a recent local newspaper poll.

Of the roughly 7,400 Swiss participants in a survey for Sonntagsblick, 62% definitely believe that a spinoff should happen and 19% probably agree.

The deal for UBS to buy Credit Suisse, brokered by the Swiss government and central bank last weekend to avoid triggering a broader financial crisis, has nonetheless been widely criticized and seen as creating a UBS too dominant in the country. ...

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