UBS Group AG has confirmed that it will implement significant changes to its global investment banking division as soon as Monday in an effort to integrate Credit Suisse following its acquisition, sources close to the matter confirmed. UBS completed its takeover of Credit Suisse in June.
Credit Suisse bankers are expected to take on larger roles in the combined company, with others expected to leave, the sources concerned explained. Some UBS bankers are also expected to leave the firm due to the restructuring.
One team lead who is reportedly expected to exit the firm is Jeff Rose, global head of consumer products and retail deals. Jon Levin, Credit Suisse’s head of retail investment banking, is believed to be in line to replace him.
Matt Eilers, UBS’s global head of financial sponsors is also believed to be one of the senior employees potentially departing from the firm. Rob DiGia, UBS’s global head of healthcare, is set to remain with the company and is in talks over a chairman role.