UBS completes most Asia-Pacific job cuts after Credit Suisse merger; bank returns to Q1 profit.
UBS' Asia-Pacific president, Edmund Koh, indicates that most of the job cuts in the region due to the merger with Credit Suisse are complete. UBS has optimized positions in terms of lines of business and geography after the emergency rescue of Credit Suisse last year. The bank, which runs the largest private bank in Asia, has returned to profit in Q1 after two quarters of losses, reflecting progress in the integration of Credit Suisse.
May 28, 2024
4 Articles