Bloomberg reports that UBS may move some employees to the San Francisco office, which will continue to serve clients in Southern California, Karina Byrne, a spokeswoman for the Zurich-based company, said in a phone interview.
The bank said in October it will cut about 10,000 jobs and retreat from capital-intensive trading businesses to boost profitability.
'You can consider these changes to be part of the next step in the implementation of our strategy, a refinement of our investment-bank model by focusing on those areas where we believe we can be successful', Byrne said.
Hit the link below to access the complete Bloomberg article:
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