UBS chief draws up Credit Suisse leadership shortlist, FT says

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FILE PHOTO: UBS Group AG news conference in Zurich

(Reuters) -UBS Group AG’s Chief Executive Sergio Ermotti has shortlisted the Credit Suisse Group AG’s executives most likely to become part of the management team, the Financial times reported on Saturday, citing people familiar with the plans.

Dixit Joshi, chief financial officer, Francesca McDonagh, chief operating officer, and André Helfenstein, head of the Swiss business, are most likely to remain a part of the Swiss bank’s executive team, the report said.

Credit Suisse declined to comment on the report. UBS did not immediately respond to Reuters’ request for a comment.

UBS in March agreed to take over its rival for 3 billion Swiss francs ($3.37 billion), assuming up to 5 billion in losses as part of a deal hastily arranged by Swiss authorities

Earlier this week, Ermotti said UBS was working on closing its merger with Credit Suisse by the end of May or early June.

The bank is also reviewing options for Credit Suisse’s Swiss unit, including keeping the unit’s investment banking operations while selling the rest, potentially in an initial public offering, Reuters reported earlier this week.

($1 = 0.8910 Swiss francs)

(Reporting by Rahat Sandhu in Bengaluru; editing by Barbara Lewis)

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