UBS: US brokerage unit under renovation

The Swiss bank UBS restructures its investment management activities in the US. The number of its consultants is expected to decrease by 10%, but the rewards will be higher, to try to tie them to long-term bank.
In the division, led from the start of the year by ex – CFO Tom Naratil UBS, the Swiss institute currently employs 7.145 consultants. In the future there will be between 6.500 and 7.000, a spokesman for the bank has said to Reuters.

In the future, the first Swiss banking group will reduce the number of new hires by 40%. Under its new structure it will also reduce its top executives without, however, say how many will be involved.

In May, UBS announced its intention to delete used in the management of fortune not tied to the United States, in order to significantly reduce its costs. There will be a closer cooperation between the American asset management and the rest of the world.