The workers are going to be moved out of UBS’s London headquarters, above DAVID BEBBER FOR THE TIMESUBS is to move up to 200 jobs out of London to Frankfurt and other European cities. The Swiss bank said yesterday that it may also make “significant changes” to its British operations. UBS in London, which was created out of the former SG Warburg empire, is one of the biggest investment banking players in the capital, employing about 5,000 people. The banking industry is one of the sectors most immediately affected by Brexit because banks cannot rely on being able to continue to have access to EU markets after March 2019. The jobs switches would be in centralised functions, such as risk management, as well as in some client-facing areas, where bankers would have to relocate to centres serving their local customers.

Source: The Times March 10, 2018 00:00 UTC