The CEO of UBS, Sergio Ermotti, has announced that the migration of clients from Credit Suisse to UBS is expected to take around 18 months.

Ermotti emphasized the importance of integrating the two banks' IT systems, stating that it is crucial for the benefit of shareholders, clients, and employees.

Ermotti confirmed during an event in Washington, D.C. that the initial steps of client migration have begun, highlighting the complexity of the integration. He also mentioned that this integration serves as a case study for regulators evaluating the resolution of systemically important financial institutions.

The CEO is committed to ensuring a successful integration that will ultimately benefit all stakeholders involved.