Ulrich Korner, who served as the final CEO of Credit Suisse, is set to leave UBS in the coming weeks, according to the Financial Times. Korner joined the board of UBS after the Swiss banking giant took over Credit Suisse in a government-backed rescue last year. The merger was one of the largest of its kind since the 2007-2009 financial crisis.
UBS is working to complete the merger of its legal entities with those of Credit Suisse by late May, which will eliminate the need for the Credit Suisse management board. UBS did not immediately respond to Reuters for comment. Korner’s departure follows the integration of the two banks and the streamlining of their combined operations.