UBS CEO says about 10% of Credit Suisse staff have left

UBS Chief Executive Sergio Ermotti said on Monday that around 10% of Credit Suisse employees had left before the bank sealed its takeover of its former rival.

reported

"It's true that around 10% of the workforce have already left in the last few months before the takeover," Ermotti told Swiss broadcaster SRF. A figure of 10% would translate into nearly 5,000 departures, or more than 400 per week since Credit Suisse's rescue, although Ermotti did not say if he was referring specifically to the time between March 19 and the closing.

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