16.12.2016

UBS to cut jobs in Asian investment banking business

400UBS Group is cutting nearly two dozen jobs in its Asian investment banking business, mainly in Hong Kong and Singapore, as part of a push to slash costs, people with direct knowledge of the matter said, as Reuters reported.

UBS in Hong Kong declined to comment to the newswire. The cuts are likely to hit mid-level staff hardest, but will also include several bankers at the rank of Managing Director.
Reuters reported last month that Standard Chartered is set to cut about a tenth of its global corporate and institutional banking headcount across all the major business centres starting with Singapore and Hong Kong, as the bank steps up an aggressive drive to cut costs.

In October, UBS, which is Asia's largest private bank in terms of assets under management, maintained its gloomy outlook amid negative interest rates in Switzerland and economic uncertainty which has kept many investors on the sidelines.


UBS

Events


Semptember 2015
  • 28
    Jun

    Only a little more than half a year is remaining until implementation of PRIIPs and MiFID II, and th

  • 30
    Jun

    Lo Shipbrokers and Shipagents Dinner è uno degli eventi più importanti nel panorama mondiale della

  • 04
    Jul

    Within the framework of this presentation, Viktor Pershikov, MFTA, (a leading technical analyst in R

  • 05
    Jul

    One of the biggest conferences in Switzerland, which brings together the private equity, venture cap

  • 06
    Jul

    Within the framework of this presentation, Viktor Pershikov, MFTA (a leading technical analyst in Ru

See All

newsletter

Updates and news from MarketPlus

Market Overview
SMI® PR9051.270,73 %
LYXOR DAX INAV122.1340,15 %
FTSE MIB Index20930.26-0,68 %
FTSE 1007439.29-0,11 %
CAC 405281.930,15 %
S&P 5002434.50-0,05 %
NASDAQ Composite6236.68510,04 %
HANG SENG INDEX25674.53-0,08 %
Powered by Yahoo Finance