UBS completes takeover of embattled rival Credit Suisse

The logo of the Swiss bank Credit Suisse (Keystone via AP)

UBS has said it has completed its takeover of embattled rival Credit Suisse.

The move comes nearly three months after the Swiss government hastily arranged a rescue deal to combine the country’s two largest banks in a bid to safeguard Switzerland’s reputation as a global financial centre and stave off market turmoil.