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Financial Times - Ermotti returns as UBS chief to steer $3.25bn Credit Suisse rescue mission
Summary of the front page
The FT reports UBS bank has appointed its former boss, Sergio Ermotti, to lead the merger between itself and Credit Suisse after Ralph Hamers stepped down as CEO. He will lead the effort to merge two of the world’s biggest banks, after UBS’s chief executive Ralph Hamers was “pushed aside”.
The paper says the move comes after Credit Suisse faced a crisis of confidence amid two smaller US banks recently failing.
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