Foreign news: UBS and Credit Suisse consider investment banking marriage, ADB ready to work with AII

Swiss bank UBS could combine its investment banking arm with that of Credit Suisse to create a top player, Eric Knight, head of activist investor Knight Vinke, was quoted as saying in an interview with a Swiss paper. Reuters reports that Knight said UBS should look at spinning off or merging its investment bank so the group could focus on its wealth and asset management businesses. Knight told Reuters last year that he believed UBS would eventually follow his advice and split off its investment bank.
The Asian Development Bank said it was ready to work with the China-led Asian Infrastructure Investment Bank so long as standards were met, reports Reuters. China has said 57 countries have signed up to become founding members of the AIIB, but so far the United States has chosen to remain outside the bank. Japan, which has a lead role in the ADB, has also cited a lack of transparency at the Beijing-based AIIB as a reason for not joining by a March 31 deadline, but said it would be desirable for the ADB to work with the AIIB.