RBS to split & sell Asian arm

LONDON – THE Royal Bank of Scotland is poised to break up its Asian business after its attempted auction hit problems, the Sunday Times reported.
The newspaper said a string of regulatory hurdles had emerged in recent weeks, derailing efforts to package the bank’s operations across China, India and southeast Asia into one saleable business.
Australia and [...]

HSBC lays off 100 private bankers in HK

Global banking giant HSBC said Tuesday it had laid off 100 private bankers in Hong Kong as demand for their services has shrunk amid the economic downturn.
“Changing market conditions have affected business volumes and have led private banking to review its business to ensure it remains competitive and well-placed to serve its clients,” a spokesman [...]

UBS to axe 10,000 more jobs worldwide?

STRICKEN Swiss bank UBS was preparing to complete a clean sweep of its leadership at an annual meeting on Wednesday amid reports that the new management could cut another 10,000 jobs.
The world’s biggest wealth manager, which has been among the hardest hit in the financial crisis, has already pared down 11,000 jobs from its payroll [...]

Swiss bank UBS to cut 100 jobs in Singapore

SINGAPORE : Swiss bank UBS is laying off 100 staff in Singapore, as part of efforts to cut costs.
The bank is shedding 240 jobs altogether in Asia Pacific, all from its wealth management group, across all levels and functions.
UBS said this represents less than 3 per cent of the bank’s total staff in the region.
Despite [...]

UBS to cut 240 jobs in Asia-Pac

SINGAPORE – Switzerland’s biggest bank UBS said Tuesday that 240 jobs will be cut from its wealth management division in the Asia-Pacific region as part of a cost reduction exercise.
Despite the job losses, the region remains important for the company, UBS said in a statement from its Singapore office.
“Asia Pacific remains a strategic priority for [...]

RBS cuts 9,000 jobs worldwide

Royal Bank of Scotland is cutting up to 9,000 jobs worldwide in areas such as technology and call centres in what is the biggest single job cull at a bank this year.
The bank, which is majority owned by the UK government after being brought to its knees by the credit crunch, has already cut 2,700 [...]

UBS may lay off 100 private bankers in Singapore

Dept heads tell staff to brace themselves as current climate require cuts: sources

SocGen’s private bank to cut around 10 pct Asia staff

SINGAPORE – Societe Generale said it will cut around 10 percent of staff from its private banking arm in Asia excluding Japan due to volatile market conditions.
The French bank joins rivals such as UBS, Deutsche Bank and Citigroup in shedding private bankers in Asia, which just two years ago saw rampant job-hopping and poaching as [...]

HSBC says 1,200 staff face axe in Britain

LONDON, ENGLAND – HSBC Holdings is cutting about 1,200 jobs in Britain, saying the operating environment for the battered banking industry was ‘extremely challenging’ and would remain so for some time.
Unite, a union representing HSBC staff, said the changes announced on Wednesday would result in 2,900 jobs being lost.
A spokesman for HSBC said 1,200 people [...]

UBS lays off Singapore team

UBS, the world’s biggest wealth manager, has axed a team of six private bankers in Singapore, who were managing wealth for Turkish clients, sources familiar with the situation told Reuters on Monday.
UBS is struggling after losing billions in the risky US housing market, which forced it to obtain financial aid from the Swiss government.
The Singapore [...]