_x000D_Photo: ETH Library, Public domain, colored.

Who was known as King Alfred I?

Alfred Escher helped build Switzerland’s railways and founded Credit Suisse. He was affectionately known as King Alfred I. In 2023, UBS saved Credit Suisse in a deal worth 3 billion Swiss francs ($3.25 billion). As much as the rescue would “>secure financial stability and protect the Swiss economy,”> it centers additional risks on one banking giant, UBS Group AG. Credit Suisse shareholders will get just 1 UBS share for every 22.5 Credit Suisse shares.