UBS Cuts Bankers as Credit Suisse Integration Continues
- Lender aiming to save billions in staff costs in years ahead
- Dealmakers are being cut across Wall Street after tough year
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UBS Group AG cut a group of senior bankers as the financial giant reduces its headcount following last year’s takeover of former rival Credit Suisse, according to people with knowledge of the matter.
The Zurich-based firm made several of the cuts last week, said the people, all of whom asked not to be identified discussing confidential information. Other bankers to depart include Jasper Tans, vice chairman of Global Banking EMEA, who told the bank he intends to step down in the first quarter after more than a decade at the lender, according to a memo seen by Bloomberg.