UBS axes 40 jobs in Asia

Pedro Gonçalves
clock • 1 min read

UBS is cutting about 40 jobs in the major centres of Hong Kong, Singapore, Sydney and Tokyo to trim costs after combining its global markets and banking businesses. Sources told Reuters and Bloomberg that the job cuts at the Swiss bank started last week and were centred on both "front and back office" positions in the trading and investment banking divisions of the global bank. The bigger cuts would come from UBS's markets and investment-banking teams with a majority at the level of vic...

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