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The personnel changes keep coming at leading investment banks, as eroding profitability and dwindling profit margins in some of the world’s leading financial hubs have caused lenders to rethink their global strategies. In light of these stimuli, UBS has opted to part ways with three senior executives, who all have served in the group’s fixed income unit, according to a Reuters statement.
Roger Naylor, Chris Murphy, and Matt Hanning are each leaving the bank with different timetables, as verified by the UBS Chief Executive Andrea Orcel. Orcel cited the moves as being related to a perfect storm of challenges, which touches ... (read more)