HomeIndustriesUBS Undergoes Restructuring Following Credit Suisse Deal

UBS Undergoes Restructuring Following Credit Suisse Deal

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.

WEBTOON Entertainment Announces $315 Million IPO Offering in the U.S.

WEBTOON Entertainment, a worldwide platform that hosts comics and cartoons, is gearing up for an Initial Public Offering (IPO) in the United States. According...

Dollar Remains Strong, Euro Weakens on Political Uncertainty

The dollar continued to hold its footing this weak, holding a strong position compared to other currencies. This is especially the case with the...

Goldman Sachs Lifts Prediction for S&P 500 in 2024 to 5,600

Investment bank Goldman Sachs is raising its expectations for the S&P 500 index in 2024. According to a note sent to their clients last...