ZURICH - UBS shareholders get their first chance to grill the bank's bosses over its shotgun marriage to Credit Suisse, done in double-quick time behind their backs.
Switzerland's biggest bank is absorbing its stricken closest domestic rival in a deal stitched together on March 19 out of fears of a global banking crisis if the floundering Credit Suisse went under.
But some UBS shareholders may have concerns closer to home as to what it means for their personal investments now the bank is taking on an institution that repeatedly got itself into trouble.
Shareholders of both banks had no say in the mega-merger, which was engineered behind closed doors by the Swiss government, the central bank and the financial regulators.
Wednesday's annual general meeting takes place in Basel, one of the two birthplaces of UBS along with Zurich.
The AGM is being held in the St. Jakobshalle indoor arena, famously the stomping ground of Swiss tennis great Roger Federer -- Credit Suisse's top brand ambassador.
UBS shares closed up 0.2 percent Tuesday at 18.77 Swiss francs each, while the Swiss stock exchange dropped 0.2 percent.
Credit Suisse shareholders have seen the value of their investment plunge from 12.78 Swiss francs per share in February 2021 to the 0.76 francs they will receive in the $3.25-billion merger.