Monday, April 20, 2009
UBS to overhaul its retail business
500-plus advisers will be cut by year's end; branch consolidation plans in the works
As part of a massive overhaul of its U.S. wealth management business, UBS AG is set to shed up to 2,000 jobs, shrink its regional operations and consolidate a number of branches here over the next several months.
According to multiple sources, the Zurich, Switzerland-based banking company is set to unveil the restructuring of its U.S. wealth management unit to employees this week, following the announcement by group chief executive Oswald Grubel last Wednesday that UBS will cut nearly 8,700 jobs worldwide in light of a $1.8 billion loss the company is expected to post for the first quarter...
Investment News: UBS to overhaul its retail business
As part of a massive overhaul of its U.S. wealth management business, UBS AG is set to shed up to 2,000 jobs, shrink its regional operations and consolidate a number of branches here over the next several months.
According to multiple sources, the Zurich, Switzerland-based banking company is set to unveil the restructuring of its U.S. wealth management unit to employees this week, following the announcement by group chief executive Oswald Grubel last Wednesday that UBS will cut nearly 8,700 jobs worldwide in light of a $1.8 billion loss the company is expected to post for the first quarter...
Investment News: UBS to overhaul its retail business
Permalink posted by markw @ 4:35 AM 
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