Credit Suisse, Swiss Volksbank Merger Will Yield Combined Trading Rooms Abroad
BANKS
Credit Suisse and Swiss Volksbank (SVB), which announced their planned merger January 5 (FX Week, January 11), won't be combining their foreign exchange trading operations in Switzerland. But they will be doing so abroad, say officials at the two banks.
"The foreign operations of Swiss Volksbank will disappear or will be integrated with those of Credit Suisse, but exactly how that will take place and at what pace is unclear right now," says Gerhardt Beindorff, a member of senior management and
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