People who know what's going on say that UBS has put off moving a group of very rich Credit Suisse clients to its own banking platform. This shows how hard it is to combine the two banks after the emergency takeover last year.
The sources say that the delay only affects a small number of very wealthy clients whose accounts have complicated arrangements, cross-border agreements, or specialty investment products that need more compliance checks before they can be transferred. UBS thought that most of the transition would be done this year, but they have now pushed some of it back to 2026.
The Swiss bank has been trying to buy Credit Suisse's global wealth management division since it bought its former rival in a government-backed rescue in 2023. Most of the customer accounts have already been moved, but bankers say that the rest of the portfolios are some of the most technically difficult and need very specific onboarding.
“Our priority is ensuring every account is migrated safely and with full regulatory alignment,” a UBS representative told
Analysts say that the delay is normal for a merger of this size, especially when it involves rich people with complicated financial needs. It does, however, show how hard it is for UBS to deal with one of the biggest bank mergers in a long time.
The biggest integration effort in European banking in more than ten years is still ongoing.
The UBS became the world's largest wealth manager . It now manages trillions of dollars' worth of client assets in the US, Europe, and Asia. The integration process also involves coordinating regulatory standards, investment structures, and risk controls across dozens of jurisdictions, in addition to moving client information and accounts.
Industry experts say that ultra-wealthy people often have portfolios that are harder to move than regular retail or mid-tier wealth accounts because they are set up differently and may include private equity interests, offshore companies, and custom credit arrangements.
UBS has made it clear that most of Credit Suisse's clients have already been successfully onboarded, even though there were delays. The rest of the migrations will happen slowly to avoid any problems with compliance or disruptions.
Because the combined company is so big and its wealth management operations are so important to the system, Swiss and EU financial regulators are also keeping a close eye on the process to make sure it stays stable.
