UBS streamlines IB with Apac’s Hanning to exit

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By Rashmi Kumar
30 Jun 2016

UBS has rejigged its global investment banking team as it feels the need to re-examine its business in the face of a “perfect storm of challenges”, according to an internal memo sent to staff by Andrea Orcel, president of the investment bank.

“We are now in a period of dislocation — a perfect storm of challenges and changes from regulation, competitors and markets. While this situation places huge pressure on our industry and on our business, it has also offered us a unique opportunity to reassess, making changes to our advantage ...

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