Credit Suisse vs UBS: Founders, CEOs and History
Credit Suisse was founded in 1856 by Alfred Escher. UBS was founded in 1998 by Marcel Ospel and is led by Sergio Ermotti.
Company facts
Credit Suisse
- Founded
- 1856
- Headquarters
- Paradeplatz, Zurich, Switzerland
- Employees
- 50,480
UBS
- Founded
- 1998
- Headquarters
- Zurich and Basel, Switzerland
- Current CEO
- Sergio Ermotti
- Employees
- 99,085
Founders
Credit Suisse
Alfred Escher
Alfred Escher (1819-1882) was a Zurich politician and railway entrepreneur who founded Schweizerische Kreditanstalt, the bank later known as Credit Suisse, in 1856. He wanted Swiss railways financed with Swiss capital rather than by French and German banks.
UBS
Marcel Ospel
Marcel Ospel (1950-2020) was the Swiss banker who led Swiss Bank Corporation into its 1998 merger with Union Bank of Switzerland, creating UBS. He served as group CEO and later chairman, building a large investment bank alongside the wealth business.
CEOs and their tenures
Credit Suisse
- Alfred Escher1856–1882
Founder & Board Chairman
Built the domestic capital market that helped industrialize Switzerland and made Paradeplatz in Zurich a banking center.
Source - Tidjane Thiam2015–2020
Chief Executive Officer (2015-2020)
Returned the bank to profit, with pre-tax income of about $5.64 billion (CHF 4.7 billion) in 2019, and reduced risk-weighted assets, although the spying affair damaged its reputation.
Source - Ulrich Körner2022–2024
Chief Executive Officer (2022-2024)
Steered the bank through its final tumultuous months and successfully executed the operational integration of Credit Suisse AG into UBS AG before the legal entity's dissolution in May 2024.
Source
UBS
- Sergio P. Ermotti2011–2020
Group Chief Executive Officer
Rebuilt capital and profitability after the financial crisis.
Source - Colm Kelleher2022–present
Chairman of the Board
Former Morgan Stanley president who has led the board through the Credit Suisse deal and the Swiss capital debate.
Source - Sergio P. Ermotti2023–present
Group Chief Executive Officer
Returned as group CEO on April 5, 2023, replacing Ralph Hamers, to lead the takeover and integration of Credit Suisse.
Source
Timeline: Credit Suisse and UBS side by side
1856Credit Suisse
Founding of Schweizerische Kreditanstalt (SKA) by Alfred Escher: Alfred Escher founds Schweizerische Kreditanstalt in Zurich in July 1856 to finance Switzerland's railway network and industrialization…
1862UBS
Union Bank predecessor founded
UBS traces part of its lineage to Swiss banking predecessors founded in the nineteenth century.
1862UBS
Founded
Bank in Winterthur founded.
1876Credit Suisse
Move to Paradeplatz 8 Headquarters in Zurich: Completes its neoclassical headquarters at Paradeplatz 8 in Zurich, which became a symbol of Swiss banking.
1912UBS
Merger
Union Bank of Switzerland formed.
1988Credit Suisse
Acquisition of First Boston (CS First Boston): Merges its joint venture with New York investment bank First Boston, taking a large stake that became control in 1990 and creating CS First Boston.
1998UBS
Modern UBS formed
Union Bank of Switzerland and Swiss Bank Corporation merged to create UBS.
1998UBS
SBC Merger
Merged with Swiss Bank Corporation.
2000Credit Suisse
Acquisition of Donaldson, Lufkin & Jenrette for $11.5 Billion: Buys DLJ, then majority-owned by AXA, for about $11.5 billion, becoming a leader in leveraged finance and private equity sponsor advisory…
2000UBS
PaineWebber acquired
UBS expanded its U.S. wealth management platform through the PaineWebber acquisition.
2008Credit Suisse
Navigating 2008 Crisis Without Swiss State Bailout: Credit Suisse raises about $12 billion (CHF 10 billion) from private investors including Qatar and survives the crisis without state aid, while UBS…
2008UBS
Financial Crisis
Received government bailout.
2021Credit Suisse
The Dual Collapse of Archegos and Greensill Capital: In March 2021 Credit Suisse freezes about $10 billion of Greensill supply-chain finance funds and loses about $5.5 billion on the Archegos default.
2023Credit Suisse
Historic Emergency Takeover by UBS for CHF 3 Billion: After ~$133 billion (CHF 110.5 billion) of net asset outflows in Q4 2022 and the March 2023 bank panic, the Swiss government arranges UBS's ~$3.6…
2023UBS
Credit Suisse acquisition announced
UBS agreed to acquire Credit Suisse in an emergency transaction brokered by Swiss authorities.
2023UBS
Credit Suisse Acquisition
Acquired Credit Suisse.
2024Credit Suisse
Legal Entity Dissolved and Integrated into UBS AG: Credit Suisse AG is merged into UBS AG on May 31, 2024, ending its existence as a separate legal entity.
2024UBS
Integration
Integrated Credit Suisse operations.
2025UBS
Invested assets exceed $7T
UBS Group invested assets rose above USD 7 trillion in 2025.
2026Credit Suisse
All Former Credit Suisse Clients Migrated to UBS: UBS completes the migration of Swiss-booked clients on March 18, 2026, finishing the transfer of about 1.2 million former Credit Suisse clients worldw…
Acquisitions
Credit Suisse
- Takeover by UBS Group AG2023$3.3B
- Donaldson, Lufkin & Jenrette (DLJ)2000$11.5B
- First Boston Corporation (CS First Boston)1988Undisclosed
Questions about Credit Suisse vs UBS
Who is the CEO of Credit Suisse and UBS Group AG?
UBS Group AG is currently led by Sergio Ermotti. The current CEO or equivalent executive for Credit Suisse was not available in our dataset.
When was Credit Suisse founded vs UBS Group AG?
Credit Suisse was founded in 1856 — 142 years before UBS Group AG, which was founded in 1998. Credit Suisse's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger UBS Group AG.
How many employees does Credit Suisse have compared to UBS Group AG?
Credit Suisse employs approximately 50,480 people, while UBS Group AG employs approximately 99,085. UBS Group AG has the larger workforce at 99,085 employees, compared to Credit Suisse's 50,480. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Credit Suisse and UBS Group AG headquartered?
Both Credit Suisse and UBS Group AG are headquartered in Switzerland, meaning they operate under the same primary regulatory and tax environment.
Who founded Credit Suisse and UBS Group AG?
Credit Suisse was founded by Alfred Escher. UBS Group AG was founded by Marcel Ospel.
Which company has a longer operating history — Credit Suisse or UBS Group AG?
Credit Suisse has been operating for approximately 170 years, making it the more established of the two companies. UBS Group AG has been in operation for around 28 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Credit Suisse vs UBS overview