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Swiss Banking News 2006

In 2006, Credit Suisse announced the plan to merge its private banks to form an autonomous bank. In September 2006, Credit Suisse Group and General Electric Co. won EU regulatory approval for a 1-billion USD project to create the joint venture for investing in global infrastructure projects. By the end of the year, Credit Suisse launched the new Center of Excellence in India, following similar Centers established in Singapore and in the U.S. In October 2006, regular economic survey was issued by Credit Suisse in co-operation with the Centre for European Economic Research.

In spring 2006, UBS was announced the market leader in global providing of execution and clearing services. In July 2007, UBS received banking licence from the Central Bank of Russia.