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ubs transforms and expands through strategic partnerships and historic acquisition
UBS has undergone a significant transformation since the financial crisis, focusing on wealth management and reducing risk. In 2023, it made headlines by acquiring Credit Suisse, creating a financial powerhouse with over $5 trillion in assets, further solidifying its position as a leading global wealth manager. The strategic partnerships in Asia and South America highlight UBS's commitment to growth and innovation in the financial sector.
federal council navigates credit suisse crisis through secure messaging app
In March 2023, the Federal Council managed the crisis surrounding Credit Suisse's downfall through urgent communications on the encrypted messaging app Threema. As UBS prepared to take over, Finance Minister Karin Keller-Sutter emphasized the stakes for the country, urging CS's leadership to accept the deal. The use of Threema allowed for rapid coordination amid the chaos, despite guidelines restricting cell phone use in sensitive discussions.
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