UBS Cuts Outsourced Tech Jobs
The investment bank has eliminated thousands of roles and revamped its approach to outsourcing over the last two years.
UBS has significantly reduced its dependency on third-party vendors and on outsourced workforces in a bid to grow profits and retain in-house knowledge.
The Swiss bank has cut over 3,000 jobs in its external workforce in the last two years, primarily roles across technology operations.
Speaking at a roundtable on November 21, Sabine Keller-Busse, group chief operating officer and president of EMEA at UBS, said that the bank has reduced its external workforce by 8,000 people and replaced them
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
This Week: SS&C unveils T+1 preparedness scorecard; S&P/DTCC; SmartStream & more
A summary of the latest financial technology news.
The bank quant who wants to stop genAI hallucinating
Former Wells Fargo model risk chief Agus Sudjianto thinks he has found a way to validate large language models.
Prepare now for the inevitable: T+1 isn’t just a US challenge
The DTCC’s Val Wotton believes that firms around the globe should view North America’s move to T+1 as an opportunity—because it’s inevitable.
Man Group’s proprietary data platform is a timesaver for quants
The investment firm’s head of data delves into its alt data strategy and use of AI tools to boost quant efficiency.
Waters Wavelength Podcast: An exploration of the DeFi world
Daniel Liebau from Lightbulb Capital joins the podcast and dives into DeFi.
Nasdaq CEO: GenAI ‘a whole new opportunity’
Nasdaq CEO Adena Friedman and other top execs outlined a range of use cases for generative AI and other emerging technologies during its Investor Day.
Native digital assets—a Kodak moment for financial services
Ian Hunt argues that ignoring a new business model for investment products, assets, transactions and asset servicing could sentence financial firms to the same fate as the fallen film photography giant.
This Week: Overbond, Northern Trust, FIS/Torstone, Trading Technologies, and more
A summary of the latest financial technology news.
Most read
- Women in Technology & Data Awards 2024: All the winners
- Man Group’s proprietary data platform is a timesaver for quants
- Dark horse: Deutsche Börse building dark pool