UBS cuts around 200 positions in London as Credit Suisse integration enters final stage

According to Jinse Finance APP, UBS Group (UBS.US) has recently carried out a new round of job reductions in London, cutting approximately 200 positions over the past few weeks. The bank is nearing the end of its integration with Credit Suisse.

According to sources familiar with the matter, this round of layoffs has been internally communicated and covers several core business lines, including wealth management and investment banking. A spokesperson for UBS declined to comment on the news. The report also states that, to cushion the impact of the layoffs, UBS is offering some affected employees opportunities to transfer to other roles within the group, aiming to minimize the effects of the personnel adjustments.

In 2023, UBS acquired Credit Suisse under the mediation of the Swiss government, and after the merger, the group’s staff size once approached 120,000. Following ongoing redundancy reduction, business line integration, and system migration, as of September 30, 2026, UBS's total headcount had dropped to 109,990. UBS had previously indicated in its third-quarter report that the integration of Credit Suisse is expected to largely conclude by the end of 2026, the decommissioning of Credit Suisse’s legacy IT systems is progressing smoothly, and the group continues to deliver on its cost reduction targets resulting from the acquisition.

Market analysis points out that, as the European investment banking and wealth management hub for UBS, London—compounded by a high degree of overlap with the former local Credit Suisse team—has always been a key area for streamlined integration. This round of layoffs is a structural optimization as the merger wraps up, rather than the start of a new large-scale layoff cycle.