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UBS closes outsourced trading unit

Summary by Hedgeweek

UBS Group AG is closing its outsourced trading desk, one of the largest such offerings on Wall Street, as it refocuses its global markets strategy. The bank has begun informing clients of the decision, giving them three months to find an alternative provider, according to a report by Bloomberg. The report cites unnamed sources familiar with the matter AS highlighting that despite shutting down its outsourced trading business, UBS will maintain i…

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Outsourced trading hits speedbump as UBS quits - Global Trading

UBS has shuttered its outsourced trading business, the UBS Execution Hub, for global markets clients. The decision brings the purported success of the strategy into question. Those familiar with the situation say that the decision is part of resource reallocation for the global markets. More broadly, the firm as a whole is reorganising its business plans following last year’s merger with Credit Suisse. Just a few weeks ago, Ian Power was appoint…

15 days ago

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