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The fund house, the seventh largest in the 43-member strong mutual fund industry, has fallen out of investors favour of late on account of weak performances by its equity schemes and changes in the core team including key fund managers. ....
UBS stepping in to save Credit Suisse with a $3.2-billion acquisition has provided the beleaguered Swiss bank s India employees a glimmer of hope.
The surprise deal - engineered by the Swiss government - has triggered optimism of fewer job losses at Credit Suisse s India unit and better synergies at key verticals, such as wealth management and investment banking.
UBS is a much stronger hand. Coming within its fold will give Credit Suisse s wealth management and investment banking divisions a good home. ....
Credit Suisse has 15,000 employees in India, its second largest employee footprint, just behind its operations in Switzerland. Although the fine print of the UBS' acquisition of Credit Suisse is not out yet, the employees facilitating Credit Suisse’s India operations have been left in a state of uncertainty. ....