ZURICH (Reuters) – UBS has appointed or confirmed 21 country managers in the Europe, Middle East and Africa (EMEA) region, according to an internal memo seen by Reuters on Thursday.
Five of these positions will be occupied by employees of Credit Suisse, recently acquired, specifies the note sent internally by Beatriz Martin, member of the executive board.
Officials from Portugal, Guernsey, Bahrain, Saudi Arabia and the United Arab Emirates come from the former rival bought out this year.
UBS has also named Daniel Lonnborg as head of the Nordics and Tarek Eido as head of Qatar. Henri Mills, the current manager of France, will also lead Belgium.
The announcement comes as UBS undertakes the daunting task of integrating Credit Suisse, acquired in a bailout orchestrated by Swiss authorities earlier this year after its collapse.
UBS is expected to lay off about 30% of its combined workforce, which grew to 120,000 employees after the merger. Credit Suisse’s investment banking, back office and Swiss retail banking will likely be the hardest hit sectors.
(Report Noele Illien, Corentin Chapron, edited by Kate Entringer)
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