UBS wealth management overhaul claims around 20 jobs in Singapore

Singapore

THE wealth management arm of UBS, Switzerland's largest bank, is said to have laid off around 20 front-office employees in Singapore last week as part of a major global restructuring led by new division co-head Iqbal Khan.

A majority of the private bankers who got cut were desk heads or team leaders, people familiar with the matter told The Business Times (BT). Some wealth management client advisers, also known as relationship managers, were affected as well, the people said.