Several fund managers who hold UBS stock have told Reuters they think UBS has bought Credit Suisse at a good price, with some even describing it as a steal.
"UBS got Credit Suisse for practically nothing, so accordingly the deal will work out for them," another investor told Reuters.
Still, UBS inherits a troubled legacy at Credit Suisse, said Thomae, pointing to legal risks which UBS has said could cost billions of dollars.
Rivals have poached entire teams from Credit Suisse, he said, and some clients are likely to follow them.
Deka's Thomae said UBS and Credit Suisse together would have a market share in Switzerland that is just within acceptable limits.
Persons:
Colm Kelleher, Guy de Blonay, Andreas Thomae, Thomae, de Blonay, De Blonay, JP Morgan, Kian Abouhossein, Julius Baer, Deka's Thomae, Oliver Hirt, John Revill, David Holmes
Organizations:
Credit Suisse, UBS, Switzerland's, Reuters, Jupiter Asset Management, CS, Swiss, UBS AG, Credit Suisse AG, STATE, Deka Investment, Fund, Rivals, Suisse, JP, Suisse's, Investors, Credit, Thomson
Locations:
ZURICH, Suisse's Swiss, Switzerland