Other Review
Credit Suisse (now UBS) Review 2026 — Is Credit Suisse (now UBS) Legit?
Score Summary
out of 10
Credit Suisse, once one of Switzerland's two global banks, was acquired by UBS in March 2023 in a government-brokered emergency rescue. Former Credit Suisse clients have been transitioned to UBS. This review serves as a historical record and guide for former Credit Suisse clients navigating the transition.
Overview
Credit Suisse was founded in 1856 by Alfred Escher and was one of Switzerland's two global systemically important banks alongside UBS. At its peak, Credit Suisse managed over CHF 1.5 trillion in assets and operated across investment banking, private banking, and asset management in 50+ countries. However, a series of crises — including the Archegos Capital Management collapse ($5.5 billion loss), the Greensill Capital supply chain finance scandal ($10 billion in frozen funds), and persistent governance failures — eroded client confidence and led to a terminal bank run in March 2023.
On March 19, 2023, the Swiss government brokered the emergency acquisition of Credit Suisse by UBS for CHF 3 billion (approximately $3.2 billion), a fraction of its prior market value. The acquisition included CHF 9 billion in government loss guarantees and CHF 100 billion in Swiss National Bank liquidity support. AT1 bondholders were controversially wiped out ($17 billion in losses).
Warning
Credit Suisse no longer operates as an independent entity. The bank has been fully absorbed into UBS. Former Credit Suisse clients should ensure their accounts have been properly transitioned and that they understand UBS's fee structures and service offerings. This review exists primarily as a historical record.
Regulatory Status
As of the acquisition:
- Credit Suisse's banking licenses have been subsumed under UBS Group AG
- All regulatory oversight is now through UBS's regulatory framework (FINMA, ECB, SEC, FCA, etc.)
- Former Credit Suisse operations in all jurisdictions now operate under UBS licenses
- FINMA conducted a retrospective review of the collapse and published findings on supervisory lessons
Fee Structure
Former Credit Suisse fee structures have been replaced by UBS's pricing. Clients should refer to UBS's current fee schedules. UBS has generally maintained competitive pricing for former Credit Suisse clients during the transition period, with some adjustments expected as integration completes.
| Fee Context | Note |
|---|---|
| Trading Fees | Now UBS fee structure |
| Custody Fees | Now UBS fee structure |
| Advisory Fees | Renegotiated under UBS terms |
| Transition Period | Special pricing may apply during integration |
Platform & Tools
Credit Suisse's digital platforms (including its e-banking and trading systems) have been or are being migrated to UBS's technology infrastructure. Former Credit Suisse clients now access:
- UBS E-Banking for portfolio management and trading
- UBS Mobile Banking App
- UBS Global Research (replacing Credit Suisse Research)
- UBS advisory and discretionary mandates
The technology migration has been a multi-year project, with some former Credit Suisse platforms remaining operational during the transition period.
Customer Support
- Former Credit Suisse clients have been assigned UBS relationship managers
- Dedicated transition support lines have been established
- In-person support available at UBS branches
- Communication about account changes and fee adjustments has been ongoing
Trustworthiness
The Credit Suisse collapse was a watershed event for the global banking industry:
- Archegos losses ($5.5B) — Inadequate risk management led to massive losses on a single client relationship
- Greensill scandal — $10 billion in supply chain finance funds frozen; clients suffered significant losses
- Governance failures — Multiple CEO changes, board departures, and internal investigations highlighted systemic governance weaknesses
- AT1 bondholder wipeout — The controversial decision to write down AT1 bonds to zero while equity holders received some value upended established creditor hierarchies
- Swiss government rescue — The acquisition required extraordinary government intervention, underscoring the severity of Credit Suisse's crisis
The absorption into UBS has resolved immediate solvency concerns. UBS is well-capitalized and strongly regulated, providing former Credit Suisse clients with a safer custodian.
Conclusion
Credit Suisse (now UBS) receives a Recommended verdict with a score of 7.0, reflecting the reality that the entity has been absorbed into UBS, which is itself a well-rated institution. The score accounts for the reputational damage and client disruption caused by the collapse, balanced against the current safety of UBS's platform. Former Credit Suisse clients should verify that their account transitions are complete, review UBS fee structures, and consider whether UBS's services align with their investment objectives. The Credit Suisse collapse serves as a powerful reminder that even systemically important institutions can fail when governance and risk management break down.
Was this review helpful?
