UBS Group (UBSG) UBS Best of Switzerland Conference summary

Conference overview

• The 2024 Best of Switzerland Conference gathered 170 investors and 49 corporates for over 250 meetings, emphasizing Switzerland’s diverse corporate landscape and global competitiveness.

• The event highlighted Switzerland’s role as a leading international wealth management hub, focusing on innovation, stability, and integration of large and small firms.

• UBS’s integration with Credit Suisse was presented as a milestone, broadening product offerings and reinforcing Switzerland’s financial center.

Key messages and strategic direction

• UBS has stabilized Credit Suisse's client franchise and funding, executing disciplined integration of the Swiss business.

• UBS is committed to providing around CHF 350bn of credit in Switzerland, enhancing products and services.

• UBS is a cornerstone of the Swiss economy, with over 160 years of history and a leading employer status.

• Integration of Credit Suisse Swiss Bank completed July 2024, with client migration and IT decommissioning targeted by end-2026.

Integration progress and strategy

• The merger of UBS and Credit Suisse’s Swiss entities in July marked a key step, with client migration to UBS platforms planned in waves through 2025.

• Achieved ~CHF 30bn increase in customer deposits and 84% top talent retention from June 2023 to June 2024.

• Most redundancies will be managed through natural attrition, with around 3,000 forced redundancies expected in Switzerland.

• Operating two IT platforms in parallel until client migration completes by end-2025; full cost synergies expected by end-2026.