There is probably more cheer as Spring begins for those with JOBS on Bahnhofstrasse in Zurich than for those employed at Paradeplatz. Ralph Kelleher and Colm Hamers of UBS will run the combined UBS and Credit Suisse. They are talented men. They are UBS men. Combining large organizations is not easy. Slight cultural differences in managerial tend to cause personnel issues -- internal politics often overrides meritocracy. Anyone who has been involved with a big merger has witnessed that. It may take five years to sort things out. On paper, it was a good deal for UBS. One wishes them well.$Credit Suisse Group AG(CS)$
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