UBS’s Orcel Signals Halt to Years of Investment Bank Cuts
- ‘We are exactly where we should be,’ division’s president says
- ‘This year is going to be a tough year for everyone’ on pay
Have Years of Cuts Paid Off for UBS's Investment Bank?
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After thousands of job cuts in recent years, UBS Group AG’s investment bank workforce has reached the right size -- for now.
“We are exactly where we should be to face the environment that we have, to face the regulation that we have,” division president Andrea Orcel said when asked about the potential for more dismissals in a Bloomberg Television interview with Erik Schatzker broadcast Tuesday.