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UBS to shed fund administration business acquired through Credit Suisse merger
Seeking Alpha ·
Seeking Alpha reports: UBS agreed to transfer its fund administration business to Northern Trust , shedding the businesses it inherited with its acquisition of Credit Suisse in 2023, the company said Tuesday. The divestment is part of a larger agreement in which UBS extended its long-standing fund administration relationship with the U.S.-based custody bank. The transfer will mark UBS's exit from the fund administration business, advancing its evolution since the emergency acquisition of…