UBS Agrees to Divest Fund Administration Business Inherited from Credit Suisse Merger
UBS has agreed to transfer its fund administration business, acquired through the merger with Credit Suisse in 2023, to Northern Trust. The move is part of a broader strategy by UBS to streamline operations and divest non-core assets inherited during the acquisition. The decision reflects ongoing efforts to simplify the bank's structure following one of the largest financial mergers in recent history. By offloading this business segment, UBS aims to focus on its core banking activities while reducing complexity from the integration process. Northern Trust is expected to take over operations and client relationships associated with fund administration services previously managed by Credit Suisse.
