UBS Chairman Says Full Integration of Credit Suisse Could Take 3-4 Years and Warns of Huge Risks

UBS Chairman Colm Kelleher said on Wednesday (April 5) that there are "significant risks" in the integration of Credit Suisse and that the full integration will take a long time.

But he said the deal would nonetheless reduce costs, benefit shareholders and bolster Switzerland's financial sector. Colm Kelleher was confident that UBS could succeed in taking over struggling Credit Suisse under the leadership of the government.

Colm Kelleher outlined the 3 billion Swiss franc ($3.25 billion) acquisition in a speech to UBS shareholders on Wednesday. He said the deal would be completed in the coming months, noting the complexity of merging the two global giants.