UBS Splits European Wealth Unit Into Three; Cuts up to 500 Jobs

UBS has announced a new strategy to enhance speed and connectivity between rich clients and the investment bank. This involves cutting 500 jobs and restructuring management to improve efficiency. Key personnel changes include Novakovic focusing on Western Europe and Chikodi Stasy leading structuring outside America. The strategy aims to integrate investment banking with wealth management, a playbook previously successful at Credit Suisse.

What is the primary focus of UBS's new strategy?

• Expanding into new markets

• Reducing investment in technology

• Enhancing speed and connectivity

• Increasing the number of clients

How many jobs are expected to be eliminated as part of UBS's new strategy?

• 1000

• 500

• 250

• 100

What is one of the main goals of the new strategy regarding wealth management?

• Focus solely on the ultra-rich

• Expand into the Asian market

• Eliminate time-consuming negotiations

• Increase the number of wealth managers

Who is being moved to focus on Western Europe in the new strategy?

• Iqbal Khan

• Tom Natural

• Novakovic

• Chikodi Stasy

What role will Chikodi Stasy play in the new UBS strategy?

• Director of European Operations

• Lead structuring and origination outside of America

• Chief Financial Officer

• Head of Global Wealth Management