UBS shifts Credit Suisse pension obligations in landmark German deal
UBS is transferring a substantial portion of pension obligations for former Credit Suisse employees in Germany to Deutsche Betriebsrenten Holding (DBR). This transaction, valued in the hundreds of millions of euros, is one of the largest of its kind in Germany.
The transferred pension claims, amounting to a three-digit million-euro sum, will now be managed by DBR. This move is expected to increase the trend of pension buyout deals in Germany, according to Christian Remke, managing director at Metzler Pension Management.
Dirk Popielas, CEO of DBR, anticipates a growing momentum in pension buyouts, mirroring trends seen in the UK and the Netherlands.
UBS has transferred the pension obligations to DBR, marking a significant transaction in the German market. This move is expected to boost the trend of pension buyouts, as noted by industry experts.
