UBS Group has completed its acquisition of Credit Suisse Group, marking one of the largest banking mergers since the 2008 financial crisis. 

The group has also announced changes to the executive board of Credit Suisse, with several top executives departing and others assuming reduced roles. According to reports, only a fraction of the combined bank's leadership positions will be filled by former Credit Suisse members.

As part of the integration process, the trading of Credit Suisse shares on major stock exchanges concludes, while UBS maintains a governance model with two separate parent banks.

UBS Asia-Pacific co-head of wealth management, Amy Lo, will expand her responsibilities to focus on key clients, and Jin Yee Young will join UBS as co-head of the Asia-Pacific business.  

Colm Kelleher, UBS Group AG Chairman, said: “I‘m pleased that we’ve successfully closed this crucial transaction in less than three months, bringing together two global systemically important banks for the first time. We are now one Swiss global firm and, together, we are stronger.”

Sergio P. Ermotti, CEO of UBS Group AG, added: “Today we welcome our new colleagues from Credit Suisse to UBS. Instead of competing, we’ll now unite as we embark on the next chapter of our joint journey.