UBS Group's ($UBS@Switzerland) $3.2 billion acquisition of Credit Suisse Group ($CS@Switzerland) raises questions about the future of the troubled bank's ETF arm. The acquisition would encompass a significant ETF division with global reach, which would result in UBS' assets under management exceeding $1.5 trillion. Credit Suisse is the 15th biggest ETF issuer in Europe and ranked sixth in flow per ETF. The ETF division has struggled to make inroads in domestic markets, with only $647 million in assets across their four U.S.-listed exchange-traded funds.