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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.
Tags >> Wealth Management Americas

UBS struggling to maintain reputation in face of recent turmoil

Posted by RJ and Makay on Sep 27, 2011

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UBS chairman Kaspar Villiger and new CEO Sergio Ermotti assured U.S. brokers that the sudden departure of former CEO Oswald Gruebel will not lead to a sale of the American unit, according to a Reuters report.  The two also affirmed their support for the unit’s CEO Robert McCann, who came to UBS from Merrill Lynch to lead a turnaround.

UBS job cuts won’t impact U.S. advisors

Posted 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.