UBS IB spends $80m on restructuring the workforce

By Jasper Cox
21 Jan 2020

UBS’s investment bank spent around $80m from restructuring related to personnel at the end of last year. The Swiss bank has also said it will look into partnerships with other banks for its investment bank.

It revealed the cost in its fourth quarter results, released on Tuesday. The charge inflated personnel expenses by 3% across the quarter compared with the fourth quarter of 2018, although when excluding it, spending on staff would fall by 12%. UBS said this fall came from “reductions ...

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