It’s worth remembering that this was a stock that traded in the high 70s and 80s back before the crisis and it plus CS were the bedrock of many Swiss pensioners portfolios.

My father in law (R.I.P.) owned about 3000 shares in UBS when he died in 2009. As a young teacher fresh out of training school he invested 600 CHF in the local bank’s shares. Over the years through mergers and acquisitions it folded into UBS. He’d be in an uncomfortable position today were he still alive.