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UBS Dismisses Currency Strategist Chris Walker as Part of Cuts

UBS AG, Switzerland’s biggest bank, dismissed currency strategist Chris Walker as part of its plans to cut about 10,000 jobs to revive profit.

London-based Walker confirmed by e-mail yesterday that he had been let go as part of the bank’s restructuring. UBS spokeswoman Stephanie Aneto in London declined to comment when contacted by telephone.

UBS, based in Zurich, announced plans for cutting jobs across its business last month as it scales back its investment bank and focusses on wealth management.

The company announced an unexpected pretax loss of 2.87 billion Swiss francs ($3.03 billion) at its investment bank on Oct. 30 along with the job cuts.

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