UBS's investment bank could lose CHF1.8bn ($2bn) over the next two years as it swallows up Swiss rival Credit Suisse after an emergency tie-up pushed through by the Swiss government.
The unit may not return to profitability until 2025 under forecasts laid out by Jefferies analysts on 24 March, with Credit Suisse's investment bank the least attractive division to UBS executives as it pushes through the $3.2bn takeover.
