"We did not buy Credit Suisse only to close it" - UBS CEO

Designated new CEO Hamers of Swiss bank UBS addresses a news conference in Zurich
Designated new CEO Ralph Hamers of Swiss bank UBS addresses a news conference in Zurich, Switzerland February 20, 2020. REUTERS/Arnd Wiegmann/File Photo

ZURICH, March 27 (Reuters) - UBS's (UBSG.S) CEO Ralph Hamers on Monday said the Swiss bank sees its government-orchestrated takeover of Credit Suisse (CSGN.S) as a growth opportunity, in an internal memo seen by Reuters.

"While we did not seek this transaction, we were prepared, and we see it as an opportunity to accelerate our firm’s growth story," Hamers wrote. "We did not buy Credit Suisse only to close it."

Reporting by Noele Illien; Editing by Jan Harvey

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