Following completion of the merger of UBS AG and Credit Suisse AG, Credit Suisse AG’s business was transferred to UBS AG, and Credit Suisse AG ceased to exist. At this time however, the two entities did not operationally merge and, as a result, we continue to have two sets of operational infrastructure and processes during this transitionary period.
Consequently UBS AG is now the sole parent entity and all direct subsidiaries of Credit Suisse AG have become direct subsidiaries of UBS AG, and all branches of Credit Suisse AG have been absorbed into existing or established as new branches of UBS AG (as the case may be). As such, Credit Suisse AG’s branches have been renamed as UBS Branches, with the exceptions of Credit Suisse AG, Taipei Securities Branch and Credit Suisse AG Shanghai Branch.
Click hereAll about the Parent Bank Merger for the latest updates on how we continue to serve clients.
In order to expand its local presence in Mexico, Credit Suisse has established a holding company Grupo Financiero Credit Suisse (Mexico), S.A. de C.V., a bank Banco Credit Suisse (Mexico), S.A., a broker-dealer Casa de Bolsa Credit Suisse (Mexico), S.A. de C.V., and a service company Credit Suisse Servicios (Mexico) S.A. de C.V. (collectively, the "Financial Group").
The primary objective for the establishment of these Mexican entities is to allow Credit Suisse to capitalize on the growing opportunities available in the local market while expanding Credit Suisse's existing business in the country. With the establishment of the Financial Group, Credit Suisse will initially concentrate on a range of products including foreign exchange and securities trading via the Bank, and debt underwriting through the broker-dealer.
This expansion bolsters Credit Suisse's Mexican franchise and will allow Credit Suisse to provide an even wider range of products and services to its clients. The expansion of Credit Suisse's current business activities in Mexico strongly advances the Bank's effort to become one of the leaders in Mexico for both domestic and cross-border transactions.
As a requirement to establishing the Financial Group in Mexico, Credit Suisse must publish various financial documents, which can be accessed through the below hyperlinks.
