UBS job consolidation ongoing
Consolidation of staff roles related to the acquisition of ING Investment Management by UBS will likely continue to the end of the first quarter, the manager has confirmed.
UBS first flagged potential job cuts when the acquisition was announced in July 2011 to reduce the duplication of roles, and in September last year confirmed there would be a rationalisation process.
A UBS spokesperson said the manager is continuing to review the integration and all its resourcing needs - a process that will continue for the rest of the first quarter of 2012.
"While there have been redundancies, they have been made in line with what we said in terms of streamlining our operations," the spokesperson said.
AUTHOR
Chris Kennedy
Recommended for you
With Fortnum Private Wealth and Professional Financial Services now unified under the Entireti umbrella company, CEO Neil Younger has detailed to Money Management the firm’s new direction and future expansion.
The FAAA has suggested looking offshore for overseas financial advisers to ease the adviser shortage, but are employers willing to take on the burden of workplace visas?
There may be a huge influx of alternatives coming to the market, but timing and access difficulties mean advisers can easily end up disappointed with their selection, according to Morningstar global CIO Dan Kemp.
An NSW individual has pleaded guilty to one criminal charge of providing unlicensed financial services after promoting crypto investments at national seminars.
