Investment Banking

UBS to slash group managing director roles in hierarchy overhaul

A person familiar with the move said about 115 individuals would be impacted

UBS to slash group managing director roles in hierarchy overhaul
Photo: Getty Images

UBS chief Ralph Hamers is cutting through the Swiss bank's upper ranks to trim down its hierarchy.

The changes will see Hamers strip away of one of the seven layers of leadership known as group managing director level at the bank, which is Switzerland's largest lender by assets.

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