With job cuts in many units underway and back office staff cuts set to begin next month, UBS is welcoming senior research analysts from Credit Suisse.
A team of Credit Suisse senior researchers has moved to UBS, as the banks continue their integration journey, according to a «Financial News» story citing an internal memo.
Some 45 analysts are moving to UBS, adding 20 percent more capacity to its research platform, allowing coverage of over 3,500 companies. To date, 140 analysts have switched desks from Credit Suisse to UBS.
The news comes on the heels of another story: a team of UBS and Credit Suisse specialists is being formed to provide data analysis and advice for investment banking clients. It will tap into a vast pool of data to glean insights.
Key Sector Coverage
According to UBS's global head of research memo, Dan Dowd, those moving include senior leaders who will take over coverage of critical sectors, particularly in healthcare and tech coverage in the US. Also being integrated is Credit Suisse's quant-driven HOLT methodology, billed as an objective framework for comparing and valuing companies.
