UBS has completed the integration of Credit Suisse’s fund management arm into its Luxembourg division, announced the global asset and fund management entity in a press statement on Wednesday 2 October 2024. According to the press statement, effective from 1 October 2024, Credit Suisse Fund Management S.A. was absorbed into UBS Fund Management (Luxembourg) S.A. and ceased to exist as a separate legal entity. It will now be deregistered from the Luxembourg Commercial Register.

This merger follows UBS’s acquisition of Credit Suisse and is part of the broader consolidation of their fund management operations. The combined entity, UBS Fund Management (Luxembourg) S.A., has been renamed UBS Asset Management (Europe) S.A., taking over all the rights and obligations previously held by Credit Suisse Fund Management S.A.

, CEO of UBS Asset Management (Europe) S.A., noted that this integration marks a key phase in aligning the firms’ asset management businesses in Luxembourg. She highlighted that despite the structural changes, UBS remains committed to meeting clients’ needs while using the combined capabilities of both firms.

Earlier in May, UBS Group that it had completed the merger of UBS AG and Credit Suisse AG, following the collapse of Credit Suisse in mid-March 2023.

UBS Asset Management, now operating under its new name in Luxembourg, is part of UBS’s global asset management group. By the end of the second quarter of 2024, UBS Asset Management reported $1.7trn in invested assets worldwide. The firm operates in 23 markets and provides a wide range of investment services across both traditional and alternative asset classes, serving institutional investors, intermediaries and wealth management clients.