UBS to Cut Several Dozen Wealth Management Jobs
UBS will cut several dozen jobs at part of its private bank. The Swiss bank told staff in May it was reshuffling its flagship wealth management business as part of efforts to cut costs. The latest cuts affect employees worldwide at IPS, which provides products and services to wealth management clients.
At the end of September, UBS’s wealth management division had 9,918 full-time employees, down from 10,135 three months earlier.
News Source: Reuters
UBS Group AG (NYSE:UBS) is a global firm providing financial services to private, corporate and institutional clients. It was founded in 1862 and merged several times prior to 1998, when the Union Bank of Switzerland merged with Swiss Bank Corporation – become UBS Group AG. The operational structure of the Group is comprised of Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. The UBS Group is present in all major financial centers and has offices in over 50 countries.
- Origin : Zurich, Switzerland
- Assets : CHF 942.82 billion
- Revenue : CHF 30.61 billion
- Employees : 60,000
Official Website: www.ubs.com
News & Media: Press Release
Updated on 8th August 2016