UBS to cut Hong Kong-based Credit Suisse investment bankers

A reported 80 per cent of investment banking staff at Credit Suisse’s Hong Kong bank are set to be made redundant.

According to sources cited by Reuters, the layoffs will begin this week as part of Credit Suisse’s ongoing integration with domestic rival UBS.

The report notes that only around 20 bankers will be spared from the cuts, with UBS previously reported to only be looking to retain about 100 Credit Suisse investment bankers from across Asia.

Other Asian markets where Credit Suisse has investment bankers include China, Singapore, Vietnam, Australia, South Korea, Thailand and India. Hong Kong represents Credit Suisse’s biggest share of investment bankers in Asia.

The report adds that most Credit Suisse investment banking teams in Hong Kong will retain a handful of staff, with certain sector coverage teams being removed entirely.

UBS, which is expected to shed more light on its Credit Suisse integration plan later this month, has cut investment bankers from Credit Suisse’s New York base and has also shuttered the latter’s office in Houston, Texas.

UBS’s regional investment banking transition in Asia is being overseen by Christian Deiss, head of Credit Suisse's Asia-Pacific M&A business.

    Share Story:

Recent Stories


Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.

Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.

Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.

Unleashing generative AI: A force multiplier for financial crime teams
This FStech webinar, sponsored by NICE Actimize sees industry experts examine the revolutionary impact of generative AI on financial crime operations, and provides actionable insights to enhance your compliance strategies.