Euromoney names UBS “World’s Best Bank
UBS has been honored with the prestigious title of “World’s Best Bank” at the Euromoney Awards for Excellence 2024. This top accolade recognizes UBS’s robust financial performance, consistent achievement of shareholder targets, and unwavering commitment to its clients.
A key factor in UBS’s recognition was its successful rescue of Credit Suisse, which averted a potential systemic crisis. Euromoney praised Union Bank of Switzerland for its strategic efforts to rebuild after 2012, positioning the bank to step in and rescue Credit Suisse. UBS’s adept handling of a sensitive situation during the acquisition weekend safeguarded its stakeholders. Euromoney also acknowledged Union Bank of Switzerland’s prompt and effective actions post-acquisition, rejuvenating the impacted franchise and repaying state support.
Sergio P. Ermotti, Union Bank of Switzerland Group Chief Executive Officer, remarked, “These awards are a testament to the strength of UBS. We are making very good progress in the integration of Credit Suisse while staying close to our clients and preparing the foundation for Union Bank of Switzerland’s future growth and success.”
Sabine Keller-Busse, President UBS Switzerland, expressed her delight, stating, “I am delighted that Union Bank of Switzerland has been recognized for its continued commitment in Switzerland, winning best bank for the tenth time since 2012 in our home market. Additionally, the Investment Bank was named Number 1 in Switzerland. It’s a great honor and it will encourage us to continue offering the best possible service for our clients.”
Euromoney commended Union Bank of Switzerland’s rapid integration progress, noting, “In the months that followed, UBS quickly completed the initial repairs on its damaged rival, regained client trust, gave many long-standing Credit Suisse bankers hope for the future, made important strategic decisions, ran down non-core assets, and cut costs.”
Established in 1992, the Euromoney Awards for Excellence are among the most highly recognized annual awards programs in the banking industry, celebrating the achievements of banks and bankers globally. Over 600 banks from more than 100 countries participate in the Euromoney Awards for Excellence each year, making it the most comprehensive and truly global program in the industry.
