Investment Banking

UBS falls to $785m loss as staff costs swell 80% on Credit Suisse takeover

UBS has moved quickly to integrate Credit Suisse in a mammoth deal for the banking sector

'We are executing on the integration of Credit Suisse at pace,' CEO Sergio Ermotti says
'We are executing on the integration of Credit Suisse at pace,' CEO Sergio Ermotti says Photo: Fabrice Coffrini/Getty Images

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UBS posted a $785m loss in the latest quarter as it integrates cross-town rival Credit Suisse.

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