UBS exits Swisscard joint venture, American Express takes full control
In a major financial move, UBS Group has announced the sale of its 50% stake in Swisscard to American Express, making the U.S. company the sole owner of the Swiss-based credit card provider. This strategic divestment follows UBS’s acquisition of Credit Suisse in 2023 for $3.2 billion, during which it inherited Swisscard’s stake. UBS’s decision […]