More than 200 staff left UBS’s investment bank in the second quarter through job cuts and other moves, as the bank pressed ahead with efforts to slash Sfr2.1 billion off group-wide costs by the end of 2017.

UBS's second-quarter results, published on July 29, showed that headcount at the more than 5,000-staff strong investment bank fell by 204 in the three months to June 30.