When the deal is decided, which will completely shake up the Swiss banking landscape and possibly prevent a global financial crisis, Ralph Hamers has to appear in front of the camera on Swiss television. The CEO of UBS looks exhausted, his tie is slightly crooked and even the strikingly colorfully splattered pictures in the background convey little spirit of optimism.
Hamers also makes it quite unmistakably clear that, above all, he has done his duty with the purchase of the faltering rival Credit Suisse that has just been decided. The transaction, he says, will “bring stability back”, “uphold the Swiss financial center”, “stabilize distortions”.
But it is definitely also a “sad day because nobody wanted to be here today”. But there is also talk of new “opportunities”.
