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 Reutersheightening 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