UBS explores merger with rival Credit Suisse

Credit Suisse and UBS may see a possible merger as the chairmen of both banks are already considering creating a single European banking giant, according to reports. The move would create one of Europe's largest financial institutions, and could boost the efforts of both to gain valuable market share in Asia. Consultants from McKinsey & Company have reportedly been tapped to draw up plans for a "mega-merger." Reported by vetted financial blog Inside Paradeplatz, the merger project has been named Signal and is headed by UBS chairman, Axel Weber, who is in talks with Urs Rohner from Cr...