UBS Wealth Management Job Cuts Begin in Asia, Europe

UBS Wealth Management is undergoing a major restructuring led by Iqbal Khan, who was given 60 days to devise a turnaround plan. The restructuring aims to reduce costs and improve decision-making by cutting up to 20% of jobs in Europe and reducing management layers in Asia. The Ultra Rich unit will be dissolved, with clients redistributed among other units. The restructuring will start in Asia, then move to Europe, the Middle East, and Africa. Approximately 500 jobs are at risk, though exact numbers are not disclosed.

Who is leading the restructuring efforts at UBS Wealth Management?

• Audio Only

• UBS Board

• Bloomberg

• Iqbal Khan

What is one of the main goals of the restructuring at UBS?

• Delay decision-making processes

• Expand the Ultra-rich unit

• Reduce costs and make quicker decisions

• Increase the number of management layers

Which region is the restructuring starting with?

• Middle East

• Europe

• Asia

• Africa

What happened to the Ultra-rich unit at UBS?

• It was expanded

• It was merged with the European unit

• It was dissolved

• It was relocated to Asia

Approximately how many jobs are at risk due to the restructuring?

• 500

• 200

• 1500

• 1000