U.S. markets closed
  • S&P 500

    3,970.99
    +22.27 (+0.56%)
     
  • Dow 30

    32,237.53
    +132.28 (+0.41%)
     
  • Nasdaq

    11,823.96
    +36.56 (+0.31%)
     
  • Russell 2000

    1,734.92
    +14.63 (+0.85%)
     
  • Crude Oil

    69.20
    -0.76 (-1.09%)
     
  • Gold

    1,981.00
    -14.90 (-0.75%)
     
  • Silver

    23.36
    +0.11 (+0.47%)
     
  • EUR/USD

    1.0763
    -0.0073 (-0.68%)
     
  • 10-Yr Bond

    3.3800
    -0.0260 (-0.76%)
     
  • GBP/USD

    1.2232
    -0.0057 (-0.46%)
     
  • USD/JPY

    130.6700
    -0.1190 (-0.09%)
     
  • Bitcoin USD

    27,435.01
    -577.09 (-2.06%)
     
  • CMC Crypto 200

    597.33
    -21.06 (-3.41%)
     
  • FTSE 100

    7,405.45
    -94.15 (-1.26%)
     
  • Nikkei 225

    27,385.25
    -34.36 (-0.13%)
     

UBS's Dargan and Credit Suisse's McDonagh to lead merger: newspaper

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
People demonstrate in front of the Credit Suisse headquarters in Zurich
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

ZURICH (Reuters) - The integration team tasked with merging Switzerland's two largest banks is to be headed by UBS's chief technology officer and Credit Suisse's chief operating officer, the Tages-Anzeiger newspaper reported on Saturday.

Mike Dargan, who has been with UBS for 7 years, and Francesca McDonagh, who joined Credit Suisse last September, will be tasked with unifying the two banks.

It is unclear when the merger will be completed.

UBS has agreed to buy Credit Suisse for 3 billion Swiss francs ($3.26 billion) in stock and to assume up to 5 billion francs ($5.44 billion) in losses, in a merger engineered by Swiss authorities.

($1 = 0.9199 Swiss francs)

(Reporting by Noele Illien; editing by Jason Neely)