What Happened: UBS is divesting its half-share in Swisscard to American Express, as per Reuters on Monday. This decision aligns with UBS’s strategic shift following its acquisition of Credit Suisse.

In October 2024, UBS entered into an agreement to sell a 50% stake in Swisscard AECS GmbH, a joint venture between UBS and American Express in Switzerland, to American Express Swiss Holdings GmbH. In ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UBS has proposed capping the size of its investment bank as it seeks a compromise with Swiss regulators who ...