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UBS to focus on “core DNA” of wealth management, cut 400 investment banking jobs

Wealth management will continue to take centre stage at UBS, Switzerland’s largest bank by assets, according to announcements made at an Investor Day hosted by the bank in New York yesterday. Chief executive Sergio Ermotti has re-iterated UBS’ commitment to private banking and says the bank will continue to hire “hundreds” of client advisors over the coming years, especially in…

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