) is axing high-paying investment banking staff after a disappointing performance at the division prompted a 16% slide in third-quarter net profit and put the group’s 2019 profit goals further out of reach.
Ermotti is running up against a number of headwinds in UBS’s core markets, as wealthy clients hold back from trading, negative rates eat into margins and investment banking activity remains muted. UBS said it expects to take restructuring expenses of around $100 million in the fourth quarter related to structural changes it is making to the business, run by co-heads Piero Novelli and Robert Karofsky.
Need another tax break.
These zombie corporations are ripe for the taking
understand they will tap the IB to find v savings. Cull the top management
EN CHILE VIOLAN LOS DERECHOS HUMANOS,YA HAY MUERTOS POR LA REPRESIÓN,TODOS DEBEN DENUNCIAR ESTOS DESMANES DE LOS GOBIERNOS NEOLIBERALES,JALABOLAS DEL IMPERIO NORTEAMERICANO,O SEA DE TRUMP,RETWITEAR