(Bloomberg) -- The task of transferring Credit Suisse’s businesses and clients to UBS Group AG IT systems is one of the riskiest in the whole takeover, with the pivotal period being 2024, according to UBS Chief Executive Officer Sergio Ermotti. 

“In 95% of the cases we migrate business into the UBS platform,” Ermotti said at an event in London on Wednesday. “We have 3,000 IT applications of Credit Suisse and we’re going to keep 300. And that in a sense will allow us to create clarity around the IT platform.”

The Swiss lender is working to bring over some 1.5 million client accounts from Credit Suisse into its own framework. Depending on the state of the technology, the shift could cost UBS anything from $1 billion to $3 billion or more, Bloomberg has reported.

The plan to bring together the banks’ domestic infrastructure is part of UBS’s overarching goal to save more than $10 billion in costs from the historic merger. 

Read More: UBS on $1 Billion Quest to Avoid Deutsche Bank’s IT Missteps

--With assistance from Liza Tetley.

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