Ulrich Koerner, CEO of Credit Suisse Pre-Merger, to Depart from UBS

Ulrich Koerner, the last CEO of Credit Suisse prior to the company’s acquisition by UBS Group, is departing from the Swiss banking giant.

Ulrich Koerner will leave the group’s executive Board at the end of June, according to a statement released by UBS on Thursday. This will happen after UBS AG and Credit Suisse AG, the two banks’ principal legal entities, merge. The bank has stated that he will retire from UBS later this year.