13 November 2024, 10:40 am 1 minute
The United States is pursuing an inquiry into Russian clients that UBS took on when it bought Credit Suisse, three people familiar with the matter told Reuters, heightening scrutiny of one of the world’s biggest wealth managers.
Why it matters
The news of the inquiry by the globe’s most powerful sanctions enforcer OFAC highlighted the perils of integrating Credit Suisse, a bank that foundered more than a year ago and was bought by UBS, and the high stakes for Switzerland for overseeing Russian money.
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & FinanceFinancial Services
Regions: AmericasEurope
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story