UBS Signals It’s Mostly Done Cutting Asia Jobs After Merger
- Attrition rate ‘quite high’ as bank eliminated duplicate roles
- UBS, Credit Suisse due to officially merge this week: Koh
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UBS Group AG’s Asia-Pacific president signaled that most of the bank’s job cuts in the region are over as it nears the official completion of its historic merger with Credit Suisse Group AG.
“We have optimized most of the positions both in terms of lines of business and the geography,” Edmund Koh, Asia Pacific president at UBS, said in an interview with Bloomberg Television on Tuesday. UBS is present in 13 locations in Asia Pacific and “for most of that we are done,” he said.