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UBS has a rare chance to catch Wall Street banks. Will culture clashes hold it back?

A year ago, UBS was forced into taking over its arch-rival Credit Suisse. But now it has its best chance to break into the big leagues

Amid culture clashes and departures, UBS wants to push ahead
Amid culture clashes and departures, UBS wants to push ahead Photo: Sarah Hanson

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Sergio Ermotti got a call from UBS chair Colm Kelleher within hours of Credit Suisse’s takeover by its arch-rival. Sealed for a token $3.25bn on 19 March 2023, the deal followed a frantic weekend of negotiations.

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