UBS has rolled out another round of job cuts within its investment bank as the Swiss lender looks to strip out thousands of roles after its acquisition of rival Credit Suisse.

The Swiss bank told staff about the fresh layoffs on 17 January, according to bankers contacted by Financial News, with cuts in its global banking business targeted at the managing director level. The number of reductions could not be ascertained at the time of publication, but they are linked to cost-cutting from the integration with Credit Suisse rather than performance-related.