2023-10-25 16:11:03
Zurich (awp) – UBS will cut 147 jobs from Credit Suisse in Spain, mainly in the investment bank of its ex-rival but also in other areas of activity, Bloomberg agency said on Wednesday, citing anonymous sources. close to the file.
Jobs in administrative functions in wealth management are also in the hot seat. Contacted by the AWP agency, a UBS spokesperson indicated that the three-key bank remained committed to Spain.
In 2021, UBS sold its wealth management activities in the southern European country to Singular Bank, while remaining active in merchant banking and asset management. After the forced takeover of Credit Suisse in March, the establishment headed by Sergio Ermotti decided to keep the wealth management activities of the bank with two veils in Spain.
The merger between the two Swiss banking giants led to a vast restructuring, with the elimination of 3,000 positions in Switzerland. However, some 8,000 employees have already left the establishment in the first half of the year.
At the end of June, UBS, including the activities taken over from Credit Suisse, had 119,000 full-time equivalents.
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