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.
