Global banks including JPMorgan, Bank of America and Deutsche Bank are stepping up an effort to serve Switzerland’s small and mid-sized companies, as they look to fill the void left by the collapse of Credit Suisse. +Get the most important news from Switzerland in your inbox Credit Suisse — which was one of the country’s two global banks — played a critical role as both a partner for Swiss businesses and in bridging gaps with international markets. Its abrupt demise in 2023 and state-sponsored rescue by rival UBS created a significant gap in Switzerland’s corporate banking ecosystem. Many major Swiss companies such as Lindt and Nestlé already have relationships with international banks. But the SME sector — which accounts for more than 99% the country’s businesses and is the backbone of its economy — had long relied on Credit Suisse and UBS for lending, foreign exchange, cash management and advisory services. + Where did it all go wrong for Credit Suisse? They were left rushing to ...
