UBS stepping in to save Credit Suisse with a $3.2-billion acquisition has provided the beleaguered Swiss bank’s India employees a glimmer of hope. The surprise deal – engineered by the Swiss government – has triggered optimism of fewer job losses at Credit Suisse’s India unit and better synergies at key verticals, such as wealth management and investment banking. “UBS is a much stronger hand. Coming within its fold will give Credit Suisse’s wealth management and investment banking divisions a good home.
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