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Credit Suisse Seeks to Soothe Swiss Clients on UBS Worries

(Bloomberg) Credit Suisse Group AG’s top executives in Switzerland sought to reassure local clients over worries stemming from the takeover by UBS Group AG, and underlined the importance that the domestic business has for the new combined bank. The Swiss bank held a 45-minute webcast at 8.a.m local time on Tuesday, hosted by Andre Helfenstein, chief executive of the Swiss business, and Roger Suter, head of private banking Switzerland. The executives apologized to clients who’d had difficulty joining the webcast due to capacity constraints. “We would encourage you to keep your accounts with us; you know us and our service,” Helfenstein said, as he addressed concerns about other banks luring clients. “Competition never sleeps, which is a good thing.” Earlier this month UBS agreed to buy Credit Suisse for 3 billion francs ($3.3 billion) in a deal brokered by the Swiss government, after the historic lender saw a collapse in confidence after years of management missteps and sc ....

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