UBS Cuts About Two Dozen Bankers in Asia on China Slowdown
The cuts were originally slated for September but were postponed as a result of the Credit Suisse merger.
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UBS Group AG has trimmed about 7% of its global banking unit in Asia, as slowing Chinese growth prompts the arm’s first redundancy round of the year.
About two dozen investment bankers were affected, people familiar with the matter said. It mainly relates to China-focused roles based in Hong Kong and includes several managing directors, the people said, asking not to be identified because the matter isn’t public.