Despite it being taken over by rival UBS, executives at the Swiss unit of Credit Suisse are urging clients to stick with them via a call this morning, according to a report from «Bloomberg» (behind paywall) on Tuesday. 

«We would encourage you to keep your accounts with us; you know us and our service,» Andre Helfenstein, CEO of Credit Suisse's Swiss business told clients on a call this morning. According to the report, some clients experienced difficulty in joining because so many were trying to participate.

Competition not Going Away

Roger Suter, heading of private banking for Switzerland was also on the call, telling clients «we can only remain attractive to clients if perceived to be offering genuine value for money.» He added that there was still a great deal of competition «that's not going to disappear with the merger of UBS and Credit Suisse.»

Less than two weeks ago, UBS took over Credit Suisse in a forced merger for three billion Swiss francs ($3.3 billion) involving the federal government, the Swiss National Bank, and the financial regulator. 

Cautious on Merger

«We need to be aware that not only for Credit Suisse but also for UBS, the Swiss business has major strategic importance, and therefore we will proceed with the merger on a very careful basis,» Helfenstein said, according to the report.