UBS reports $785m loss as Credit Suisse integration costs swell to $2bn

The group said its first quarterly loss in nearly six years was "driven by integration-related expenses", which swelled to $2bn throughout the quarter. Group of Credit Suisse bondholders plan lawsuit against Swiss government Integration-related expenses made up $431m of the firm's $4.8bn in operating expenses in Q3, but in some arms of the business the proportion was much higher. 17.3% ($125m) of the group's asset management operating expenses came from integrating Credit Suisse. In its asset management arm, net new money declined by $1.5bn, and by $8.3bn excluding money market flo...