UBS’ CEO Sergio Ermotti Sees Risks in Jettisoning UK Staff Ahead of Brexit

[kreslik.news]

Many leading banks in Europe over the past year have been rigorously cutting jobs in the UK, part of an ambitious cost cutting strategy that was implemented in part to help restore profitability to a moribund banking sector. Lenders such as Deutsche Bank, Standard Chartered, and Barclays have all spearheaded this strategy, in many instances cutting or relocating personnel out of London.

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As recently as last quarter, Deutsche Bank’s CEO John Cryan tripled down on this strategy, opting to scale back operations in ... ([url=http://www.financemagnates.com/institutional-forex/brokerage/ubs-ceo-sergio-ermotti-sees-risks-in-jettisoning-uk-staff-ahead-of-brexit/]read more)