Inside UBS’s takeover of Credit Suisse

Behind the Money

Topher Forhecz

Markets, Investing, News, Banking, Finance, Business, Business News, Crypto

4.4 • 350 Ratings

🗓️ 29 March 2023

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

After the collapse of Silicon Valley Bank, markets were anxious, and the prestigious, yet scandal-ridden Credit Suisse looked as if it could be next to fall. But over the span of a single weekend, the Swiss government and Credit Suisse’s crosstown rival, UBS, raced against the clock to avert disaster. The FT’s banking editor Stephen Morris provides a front row look at how the deal came together.

Clips from Bloomberg, CNBC, BBC

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For further reading:

How the Swiss ‘trinity’ forced UBS to save Credit Suisse

Credit Suisse: the rise and fall of the bank that built modern Switzerland

Saudi National Bank chair resigns following Credit Suisse comments

And further listening:

Behind the Money's December 2022 episode, Credit Suisse's last chance

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On Twitter, follow Stephen Morris (@sjhmorris) and Michela Tindera (@mtindera07)

Read a transcript of this episode on FT.com

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Transcript

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0:00.0	Am I missing anything? Is this the right decision?
0:02.0	Can I show this data?
0:04.0	Am I too late?
0:05.0	Find clarity in your investment decision-making.
0:08.0	Manage your portfolio for sustainable growth
0:11.0	and regulatory alignment
0:12.0	with the ultimate blend of powerful AI and
0:14.6	industry expertise.
0:16.5	Reduce risk, meet your sustainability goals and push the boundaries of possibilities based on
0:21.1	facts, not opinions.
0:23.0	Clarity AI scaling human decisions through tech.
0:26.6	Visit clarity.
0:28.0	AI and take action today.
0:32.2	It started with a simple question.
0:34.4	I'm wondering whether you would be open to assisting further
0:39.0	if there was another call for additional liquidity from credit swings.
0:43.0	That question was for the then chairman of Saudi National Bank, Amar al-Qadari.
0:49.0	He sat down for a television interview on Wednesday, March 15th.
0:53.6	Saudi National Bank had recently become the largest investor
0:56.5	in the prestigious yet troubled bank Credit Swiss.
1:00.6	And the FT's banking editor Stephen Morris says a lot was riding on how he responded.
1:06.0	The answer is absolutely not.
	...

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