It was previously unclear what impact the Credit Suisse merger into UBS would have on London’s investment banking hub. But now things are moving.
Many Credit Suisse (CS) employees in London have to commute to colleagues in the City. UBS plans to move from CS Tower One Cabot Square in Canary Wharf.
The affected bankers will move to UBS’s London headquarters at 5 Broadgate (picture below), Not far from Liverpool Street station. This was reported by the British financial portal, among other things “Financial News” (Item is subject to payment) Quoting an internal message to employees.
The CS logo disappears
As a result, the bank will give up “a few floors” at the CS Tower in Canary Wharf. This measure is part of the broad global integration of the major Swiss banks. The first thing to be reined in are employees who are in regular contact with customers, it is said, citing departments.
The message stated that “merging under a common roof is an important step in the integration process.” A few months after the emergency acquisition was completed, the integration of CS into UBS is well underway. This also reportedly means that CS banners and logos will begin to be exchanged in the coming days.
Exit Canary Wharf
Before the emergency merger, CS had about 5,500 employees in Great Britain and UBS had about 6,000 employees.
Canary Wharf has lost a number of businesses in recent years. Britain’s largest bank, HSBC, is also planning to leave Canary Wharf and move to a smaller office in the city.
Is it still worth investing in growth stocks or value stocks?
Yes, sure, the two sets of stocks always behave in opposite directions.
Yes, but always with a certain degree of caution.
Growth and value stocks are neither inherently good or bad.
A good combination of both is best.
It’s all about choice.
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