UBS says core Australian debt business not affected by global restructure

A wave of significant changes to the global UBS Investment Bank (UBS) business that are the basis of an expected 10,000 reduction in headcount do not affect the Australian operation, the bank says. A spokesperson tells KangaNews the Australian business is already structured in line with global goals, so moves which already include the shuttering of UBS's supranational, sovereign and agency (SSA) business in London do not necessitate changes locally.