Investment Banking

UBS chair: ‘Bad actors’ have left Credit Suisse

Colm Kelleher had previously said UBS would apply a "culture filter" to Credit Suisse staff moving across

'The easy part is the initial job losses when you get rid of headcount'
'The easy part is the initial job losses when you get rid of headcount' Photo: Matt Pope/Getty Images

UBS's chair has said that the "bad actors" at Credit Suisse have left the bank, after previously flagging the risks of "cultural contamination" from the $3.3bn shotgun wedding of Swiss rivals.

Colm Kelleher said that his concerns that Credit Suisse's culture would lead to risks at UBS as the biggest bank takeover since the 2008 financial crisis took shape have not played out.

WSJ Logo