UBS to Cut Two-Thirds of Credit Suisse Dealmakers in Asia
- UBS may announce global banking leadership change on Monday
- Firm is in process of selling Credit Suisse China venture
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UBS Group AG is weighing a plan to cut about two-thirds of Credit Suisse Group’s investment bankers in Asia-Pacific as part of the first major job reductions in the region following the merger of the two Swiss lenders, people familiar with the matter said.
That would cost about 200 jobs at its global banking division in Asia over the next couple of months, the people said, asking not to be identified because the matter is confidential. The Zurich-based bank may announce global leadership changes internally on Monday, without details on the cuts, one of the people said.