Investors in Credit Suisse have called for an IPO of the rescued firm’s national banking division to preserve competition in the Swiss market.
Ethos Foundation, which represents more than 200 Swiss pension funds, says the takeover of Credit Suisse by larger rival UBS will damage investors, customers and the broader Swiss economy.
On Sunday, UBS agreed to acquire Credit Suisse for SFr3 bn ($3.2 bn) after clients pulled billions from the beleaguered firm, leaving it on the brink of collapse and stoking fears of a global banking crisis.
Credit Suisse’s headquarters in ZurichThe deal was ushered through . . .
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