UBS Group cut a group of senior bankers as the financial giant reduces its headcount following last year’s takeover of former rival Credit Suisse, according to sources with knowledge of the matter.

The Zurich-based firm made several of the cuts last week, said the sources, all of whom asked not to be identified discussing confidential information. A representative for UBS declined to comment.

UBS’s workforce jumped to about 120,000 when the Credit Suisse deal closed in June, and the bank has said it aims to save around US$6 billion in staff costs in the coming years. UBS chief executive officer Sergio Ermotti later confirmed plans to slash about 3,000 jobs in Switzerland alone. He has not detailed cuts elsewhere.

Bankers leaving UBS in the latest round of cuts include:

• Ryan Lund, global head of technology banking

• John Jansen, head of technology mergers and acquisitions

• Abzal Ayubeally, head of insurance

• Joseph Lombardo, head of healthcare equity capital markets

• Sinclair Ridley-Thomas, head of technology, media and telecommunications private placements

• Saqib Rabbani, head of Americas transportation and logistics

• Ken Kloner, vice chairman

• Jasper Tans, vice chairman

Ermotti said last year that his company is looking at how to best integrate the investment banks of UBS and Credit Suisse in the United States. He’s said that the combined unit’s focus should be on clients in technology and health care and at private equity firms, sectors with the best prospects for minting millionaires who may later seek wealth-management services. UBS has a goal of becoming the No 6 investment bank in the US.

UBS is making progress on a complex integration and restructuring of Credit Suisse, which it acquired in an emergency rescue. Chairman Colm Kelleher has warned that 2024 will be a challenging year as the bank has over-delivered on the “easy part” of reducing headcount as part of the integration.

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The latest UBS job losses add to a tough year for global investment banks, with Barclays and Citigroup among firms cutting thousands of roles amid a dealmaking slump. BLOOMBERG