UBS Credit Suisse merger layoffs: UBS begins layoffs of Credit Suisse investment banking officials following their merger; duplication of operations cited as reason
Several hundred Credit Suisse investment bankers will soon be fired as UBS begins to implement the merger of the two banks, the Swiss weekly HandelsZeitung said Friday.
UBS raised concerns over lending relationships in traditionally high-risk markets of Indonesia, Vietnam, Malaysia, and India, which could potentially lead to the runoff or sale of these assets.