- Business
- Credit Suisse Group AG, a former Swiss multinational investment bank and financial services holding company founded in 1856 and headquartered in Zurich, Switzerland, provided a range of banking and financial products including private banking and wealth management services such as estate planning, insurance, tax planning, philanthropy, investment products, foreign exchange, lending, managed accounts, and real estate; investment banking encompassing securities, equity products, mergers and acquisitions, fixed income, mutual funds, hedge funds, investment research, trading, prime brokerage, and capital procurement; asset management offering alternative investments like hedge funds, private equity, credit, index products, real estate, commodities, equities, and fixed income across multi-asset class solutions; and shared services supporting risk management, legal, IT, and marketing functions across its operations in Switzerland, Europe, the Middle East, Africa, the Americas, and Asia-Pacific targeting high-net-worth individuals, corporations, and institutions. In March 2023, UBS Group AG acquired Credit Suisse for CHF 3 billion in a government-brokered all-stock deal to avert systemic risk, with Credit Suisse Group AG legally integrated into UBS on June 12, 2023; the legal merger of Credit Suisse AG into UBS AG completed on May 31, 2024, and the merger of Credit Suisse (Switzerland) Ltd. into UBS Switzerland AG on July 1, 2024, marking the end of Credit Suisse as an independent entity while UBS continues client relationship transfers, primarily automated, into 2025 amid ongoing integration efforts including workforce reductions and platform migrations. Prior to full dissolution, Credit Suisse underwent significant challenges including a CHF 4 billion capital increase in December 2022, the sale of its Securitized Products Group to Apollo in March 2024 branded as Atlas SP, and various regulatory fines for past issues like the Mozambique tuna bonds scandal where UBS faces related charges as of December 2025, alongside litigation over AT1 bond writedowns upheld in partial ruling by Switzerland's Federal Administrative Court in October 2025 now under appeal.