UBS Integration Work Continues in Zurich as Capital Talks Simmer

ZURICH - Inside UBS, the Credit Suisse integration is now a programme with workstreams, not a weekend rescue. Staff in Zurich and Horgen still talk about overlapping branches, duplicated software and clients who have had more than one relationship manager in a year.

Paradeplatz treats the capital-rules fight as the overlay that could reset the whole model. Full CET1 backing of foreign units is the government's headline. The bank's headline is the cost of equity.

Two clocks

IT migrations run on vendor contracts. Parliament runs on sessions. The SNB review due this week will not close either clock.