The logo of Swiss bank UBS is seen at its headquarters in Zurich, Switzerland February 17 2021. Picture: REUTERS/ARND WIEGMANN
About eight bankers have left the firm’s office, which also covers some of Sub-Saharan Africa, the people said, asking not to be named because the information is private. The bank plans to now cover its key corporate clients in the region out of London, they said. The investment bank is following a conservative approach and is in downsizing mode, said the people. UBS plans to keep some capabilities in the country, including research and trading, they said. Credit Suisse Group made a similar move, when it cut back on its investment banking capacity and exited SA in 2018.
South Africa can jump start its economy if it does the following: 1-Remove the race based BBBEE laws! 2-Remove all labour law red tape! 3-Reduce Corporate Income Tax to 22%! (This will be lowered to 27% next year tho) .... EskomGauteng
Well done... 👏👏👏👏 Political woes in SA has reached New heights. The rise and fall of an unscrupulous landscape of thieves