UBS in Hiring Freeze

UBS, Cutting Costs

UBS, Cutting Costs

UBS is said to have imposed a partial hiring freeze in part of its wealth management business. At the same time the bank will soon announce the appointment of a financial industry heavyweight as vice president.

Zurich based UBS, the world’s largest wealth manager, according to a report by news agency Bloomberg, has imposed a partial hiring freeze at its wealth-management business as part of efforts to trim costs.

The constraints are believed to relate to support functions, and not client advisers.

Doyen of the City

Meanwhile the Swiss banking giant has created a tailor-made position for the former chairman of the London Stock Exchange, Chris Gibson-Smith.

As reported by the «Financial Times» (paywall), UBS will announce the appointment of the financial industry heavyweight as Vice President of its corporate client solutions (CCS) division in Europe. This is essentially a part-time advisory role, specifically created by the Swiss bank for the 70-year-old doyen of the City.

UBS is scheduled to report second-quarter earnings on July 29.


Top stories from across the globe

  • Singapore Stresses Under a Wealth of Worries
  • A Short History of Investing in Gold – and What to Expect for 2017
  • Asia Pacific's Top Six Credit Risks For 2017
  • The 5 Most Shocking News in 2016
  • Hazel Moore: Banks Are Completely Wasting Valuable Customer Data
  • Morgan Stanley CEO Makes First-Ever Stock Sales After Bank Rally

PHOTO GALLERIES Networking Event Networking Event

Show pictures

stars China Symposium 2016

stars China Symposium 2016

Show pictures

Compare my salary

Compare my salary

Feeling Underpaid? Benchmark your salary by job title, company and location. Find out where you stand in minutes.

compare my salary


Newsletter-SymbolFree Subscription

Subscribe to our free newsletter and receive daily email alerts from the finews editorial team with a list of the top featured articles.

Share with us

Do you have any market intelligence to share with – email us on – All communication is completely confidential and strictly anonymous.