According to a media report, UBS will soon lift the veil on its investment bank restructuring plans. In the process, there's likely to be no room at the table for Credit Suisse executives alone.

It's no secret UBS wants to downsize its investment banking and, in particular, scale back its riskier business. More details on what exactly that entails could be revealed soon.

The bank is planning far-reaching changes in the investment bank's management, according to a «Reuters» story citing people familiar with the matter.

The changes are aimed at creating homogeneous teams within investment banking and would affect various business areas, including healthcare, consumer products/retail, financial sponsors, and equity capital markets.

Various Businesses Affected

Several senior managers were mentioned who soon could no longer play roles in the organization. These include Jeff Rose, head of UBS' Consumer Products and Retail Deals unit, Jon Levin, responsible for retail investment banking at Credit Suisse, and Matt Eilers, head of UBS' Financial Sponsors unit.

Rob DiGia, head of healthcare at UBS, is staying on and reportedly could move up to the executive committee.

Personnel decisions have yet to be finalized and there could still be changes in the process, the report added.

Earlier, Reuters reported that UBS was looking to restructure its technology, media, and telecommunications group (TMT) team, and plans to appoint Laurence Braham as global co-head of technology. He had joined UBS from Barclays earlier this year, with Christian Lesueur, previously global head of TMT investment banking, taking over as co-head.

Downsizing in Hong Kong

In separate announcement, Reuters said that Credit Suisse's Hong Kong investment banking team is to be reduced from around 100 employees at present to 20. Overall, UBS wants to keep about 100 of Credit Suisse's investment bankers in Asia, which has teams in China, Singapore, Vietnam, Australia, South Korea, Thailand, and India. The restructuring will be led by Christian Deiss, head of the M&A business in Asia Pacific.