UBS to Keep Credit Suisse’s Swiss Business, Retire Its Brand (1)

UBS Group AG will keep Credit Suisse’s domestic bank and fully integrate it, overriding local criticism that a merged entity will hold excessive sway over the country’s financial system.

UBS and Credit Suisse will continue to operate separately in the country until their legal merger next year, UBS said in a statement Thursday. The lender will keep using the Credit Suisse brand and operations until it has moved the former rival’s clients onto its own systems, which is expected to happen in 2025, it said.

The decision “follows a thorough evaluation of all options,” Chief Executive Officer Sergio Ermotti ...