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Job cuts hit investment bankers in the US

Job cuts hit investment bankers in the US

Restructuring of investment banking is progressing At UBS. According to a media report, the big bank has cut some dual staff in the US – but bigger cuts are still to come.

According to an unconfirmed agency report by UBS “Bloomberg” The big bank has cut about a dozen investment banking jobs in the US. According to the report, this is related to the consolidation of Credit Suisse (CS).

This affects duplicate positions in UBS and CS. The company did not specify any names.

Go to the White Tower

If the report is correct, the restructuring of classic investment banking with corporate advisory and capital markets transactions will move forward. Here UBS tries to combine the best of two banking worlds. However, when it comes to the CS business, UPS shows little mercy: a large part of the acquired bank is to be liquidated.

At the same time, a number of UBS investment bankers in New York are on the move. The entire team is moving into CS’s former offices in a striking white skyscraper at 11 Madison Avenue.

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