UBS Cuts About 200 London Jobs as Credit Suisse Fusion Ends
- UBS Group cut about 200 positions in London as its integration of Credit Suisse nears completion.
- The reductions affected several UBS units, including wealth management and investment banking.
- Some affected employees were offered other roles within UBS.
- UBS’s workforce has fallen about 18% since the Credit Suisse acquisition, and the integration is expected to finish by the end of 2026.
14 Articles
14 Articles
UBS has cut its spending on external consultants and subcontractors by more than $800 million this year. The Swiss bank was able to curb its costs because the integration of Credit Suisse is nearing completion, while the financial institution has cut thousands of jobs to increase efficiency, including 5,500 this year alone, the Financial Times reported.
UBS Job Cuts Hit London as Credit Suisse Integration Enters Final Phase
UBS has cut about 200 jobs in London over the past few weeks, Bloomberg reported. Its work to absorb Credit Suisse is nearly complete. The Swiss bank agreed to the deal in March 2023, when the fall of Silicon Valley Bank sparked a crisis that left a weakened Credit Suisse near collapse. People familiar with the [...] The post UBS Job Cuts Hit London as Credit Suisse Integration Enters Final Phase appeared first on Fintech Schweiz Digital Finance…
UBS cuts 200 London jobs amid Credit Suisse integration
UBS Group AG has cut roughly 200 jobs in London. This move advances the ongoing integration of Credit Suisse. The bank executed these layoffs over recent weeks. Affected areas include wealth management and investment banking. These cuts stem from a broad restructuring plan. UBS acquired Credit Suisse in March 2023. That government-backed rescue deal expanded […]
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