Investment Banking

UBS offers temporary roles to Credit Suisse bankers as dealmakers jostle for jobs

The historic acquisition is expected to lead to deep job cuts within the investment bank

UBS chair Colm Kelleher said the bank would apply a 'culture filter' to any potential new Credit Suisse employees
UBS chair Colm Kelleher said the bank would apply a 'culture filter' to any potential new Credit Suisse employees Photo: Eduardo Munoz Alvarez/VIEWpress/Getty Images

Credit Suisse bankers are moving to UBS on temporary assignments, as dealmakers jostle for a limited number of roles and job cut fears grow after the historic merger.

Bankers are being offered ‘secondments’ to UBS as part of its efforts to push through the shotgun marriage of the two Swiss banks, according to people familiar with the matter, with no guarantee of a full-time role. This is in support functions such as risk and compliance, as well as dealmaking roles, particularly junior bankers, they said.

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