UBS, Deutsche Bank Seen Speeding Cuts as Euro Crisis Worsens
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Europe’s biggest investment banks, caught between worsening earnings prospects and demands for more capital, may have little choice but to accelerate asset reductions and job cuts.
UBS AG, Deutsche Bank AG, Barclays Plc and Credit Suisse Group AG, which all report third-quarter results over the next eight days, may eliminate more jobs, speed disposals and scale down some businesses to slash costs and build up reserves amid the region’s sovereign debt crisis, said JPMorgan Chase & Co. analyst Kian Abouhossein.