Another week, another bank in crisis. This time it was Credit Suisse. After tense talks, UBS agreed to buy its former rival in an all-share deal worth about $3.25 billion. With the Swiss government-brokering the sale, Credit Suisse’s 166-year run came to a sudden end.
In this week’s In the City, host Francine Lacqua is joined by Bloomberg TV’s Manus Cranny, Bloomberg Opinion columnist Paul J. Davies and reporter Marion Halftermeyer to explain the bank’s fall from grace. They also discuss details of the deal, what happens next for Credit Suisse employees, the challenge facing UBS and why Chairman Colm Kelleher is the person to watch right now.
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