60,000 staffers sacked in 2023 by 20 of the world’s largest banks
A disturbing hail of sacks and downsizing trailed the global banking sector in 2023 with over 60,000 employees of banks losing their jobs among just 20 of the world’s biggest…
Hundreds lose jobs as UBS, Swiss biggest bank, begins restructuring
UBS, the Swiss largest bank, has announced the first steps of the restructuring of its investment banking division in an internal memo on Monday. The plans for the integration of…
Swiss banks to cut ties with Russian clients in caution to cut risks
Up to three-quarters of Credit Suisse’s Russian clients will have to look for a new bank, according to a report in the NZZ am Sonntag. This is because the risks…
World’s billionaires get even richer during COVID-19 pandemic – Study
The coronavirus pandemic has made the super-rich around the globe even richer, according to a study by consulting firm PwC and the major Swiss bank UBS. At the end of…
Deutsche Bank in strategy shift to address tech woes
Deutsche Bank is creating a new technology division in a strategy shift designed to reduce complexity and lower costs while transforming systems that have held back the bank for years. The…