UBS has hired JPMorgan to evaluate a potential initial public offering of Credit Suisse’s domestic assets, Swiss expert blog Inside Paradeplatz reported on Thursday.
Last month, UBS bought Credit Suisse for CHF3 billion in an emergency merger engineered by Swiss authorities. The deal was agreed with a pledge of support from the Swiss state of around 200 billion francs.
Speaking at a general meeting of shareholders last week, UBS Vice Chairman Lukas Gaehwiler said “all options are on the table” regarding Credit Suisse’s domestic business. The executive also said the bank would continue to operate under its old brand in Switzerland for the foreseeable future.
Representatives from UBS and Credit Suisse declined to comment.
Source: Terra
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