UBS to cut 500 jobs in wealth management overhaul

Pedro Gonçalves
clock • 2 min read

UBS will cut up to 500 private banking jobs as part of a plan to split up its wealth management businesses as the lender moves forward with an overhaul aimed at strengthening regional units and speeding up decision making. Switzerland's largest bank is merging its private-bank financing and trading operations with those at the investment bank, according to an emailed memo seen by the Financial Times. The memo said the merger would "accelerate decision-making and time to market" while "r...

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