UBS job cuts won’t impact U.S. advisorsPosted by RJ and Makay on Aug 24, 2011 |
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UBS AG’s planned elimination of 3,500 jobs will not directly impact client-facing advisors in its Wealth Management Americas unit, a UBS spokesperson said Tuesday. The cuts involve 3,500 jobs worldwide, part of a wider strategy to reduce costs by 2 billion Swiss francs ($2.54 billion) by the end of 2013. News of the plan emerged Tuesday in an internal memo from group chief executive Oswald Gruebel.
UBS AG
Morgan Stanley recently announced the launch of Morgan Stanley Huaxin Securities, a joint venture with Chinese securities firm China Fortune Securities Co., also known as Huaxin Securities. Banks outside of China are required by local regulatory authorities to form joint ventures to enter Chinese emerging equity and debt markets.








