UBS investment bank restructuring to cost $100m
UBS is reorganising its investment bank, trying to save $90m a year, it revealed on Tuesday, alongside a dismal set of third quarter results for underwriting and advisory.
The bank said it was “realigning” the investment bank, concentrating resources on “opportunities for profitable growth” and investing in “digital transformation”.The $100m of costs will be booked in the fourth quarter. The changes are designed to save $90m a year. GlobalCapital understands the number of people leaving ...
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