UBS Completes Takeover of Credit Suisse in Deal Meant to Stem Global Financial Turmoil

A traffic light signals green in front of the logos of the Swiss banks Credit Suisse and UBS in Zurich on March 19, 2023. Michael Buholzer/Keystone via AP

BERLIN—UBS said Monday that it has completed its takeover of embattled rival Credit Suisse, nearly three months after the Swiss government hastily arranged a rescue deal to combine the country’s two largest banks in a bid to safeguard Switzerland’s reputation as a global financial center and choke off market turmoil.

A statement from the bank said that “UBS has completed the acquisition of Credit Suisse today, crossing an important milestone.”