UBS Looks To Expand In Germany Through Take Over Of Commerzbank's Investment Banking

UBS has considered taking over the investment banking operations of Commerzbank as a way to expand into Germany, according to the Swiss newspaper Tages Anzeiger. "It's true that UBS wants to grow in Germany and we have new sites planned,"

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UBS has considered taking over the investment banking operations of Commerzbank as a way to expand into Germany, according to the Swiss newspaper Tages-Anzeiger. “It’s true that UBS wants to grow in Germany and we have new sites planned,” says a UBS spokeswoman to Reuters.

Commerzbank’s Klaus-Peter Mueller reportedly said the Swiss bank is interested in buying SEB’s German banking operation, says Der Spiegel. Commerzbank’s investment banking operation is made up of 900 employees. UBS is looking to add 1,000 employees in Germany even if the deal with Commerzbank does not go through.

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