UBS expects that "the legal closing" of the merger will occur "in the coming weeks," it said in a statement, while specifying that the two banks will continue to operate independently at first, the merger being done gradually.
Although merged, the two banks will initially retain their own subsidiaries and branches.
Ulrich Körner, 60, who spent much of his career at UBS before joining Credit Suisse last year in an attempt to turn it around, will join UBS's management committee at the closing of the transaction.
"With his knowledge of both organizations, he will be responsible for ensuring business continuity and client care while supporting the integration process," UBS said in the statement.
"The integration of legal activities and entities will take time," said Sergio Ermotti, chief executive of UBS.
The activities will be divided into five divisions, says the bank, which reveals the composition of its teams. Iqbal Khan, a UBS executive who also spent part of his career at Credit Suisse, will remain head of international wealth management, while Rob Karofsky, who heads UBS's investment bank, will continue in his role.
© 2023 AFP