Shareholders win in UBS overhaul

UBS's decision to cut as many as 10,000 jobs and retreat from capital-intensive trading businesses will help position Switzerland's largest bank to return more funds to shareholders.

UBS intends to split and wind down much of its fixed-income operations, reducing risk-weighted assets by an additional 100 billion Swiss francs (HK$829 billion), said a person with knowledge of the matter who requested anonymity because the plans are private.

The reorganisation stands to help Zurich-based UBS meet its capital requirements faster than it would otherwise.

via Business feed http://www.scmp.com/business/banking-finance/article/1072667/shareholders-win-ubs-overhaul