UBS Axes More Investment Bankers in Hong Kong

Oct 17, 2023Updated May 20, 20251 min read

Switzerland’s UBS has reportedly offloaded more investment bankers in Hong Kong amid a slowdown in China.

UBS has cut about 7 percent of its global banking unit in Asia, according to a report citing unnamed sources, mainly related to China-focused roles based in Hong Kong. This has affected about two dozen investment bankers, including several managing directors.

The cuts were initially planned for September but were postponed due to the Credit Suisse takeover. The final number of job losses in this current round of cuts has yet to be decided. In 2022, UBS axed half a dozen China-focused staff in Hong Kong.

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Mei Ling Tan

Contributor · RetailNews.asia

Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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