UBS (UBSG.S) will announce more management changes as it attempts to integrate Credit Suisse following the recent purchase of its erstwhile competitor, the Swiss bank’s CEO said on Tuesday.
UBS announced a slew of management changes immediately after completing the acquisition earlier this month.
“We’ve also created the first two lines of responsibility within the bank,” Sergio Ermotti said at the Point Zero Conference in Zurich.
“Within the next 20 days we will announce the third level, so it means around 1,200-1,500 people will have clear responsibilities,” he said.
Ermotti said he was confident he will be able to give more details on the integration by the end of the summer. UBS has pushed back its second quarter results to the end of August.
UBS’s CEO has previously said he expects to be able to give additional clarity over the future of Credit Suisse’s domestic business by the end of the summer as well.
