07:26 AM EDT, 06/11/2024 (MT Newswires) -- UBS (UBS) and Credit Suisse's Swiss units could complete their merger as early as July 1, Swiss newspaper Neue Zurcher Zeitung reported Tuesday, citing Sabine Keller-Busse, president of UBS Switzerland.

Keller-Busse said in an interview that the merger of the Swiss units is "well on track," according to the report.

Credit Suisse clients will not be able to use the UBS systems until 2025 but migration will start this year for large family offices and large companies. Internally, "employees of Credit Suisse and UBS Switzerland will work together on the actual banking business" following the merger, the report said, quoting Keller-Busse.

UBS Group ( UBS ) earlier said the merger of Credit Suisse (Schweiz) and UBS Switzerland is expected in Q3.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 31.00, Change: -0.26, Percent Change: -0.83