On Tuesday, RBS announced that 600 positions would be become redundant by the end of the year, a cost-cutting tactic in response to new British regulations.
Unfortunately, more bad news for financial service professionals is on the way.
Bank of America is now cutting managers in its wealth-management division, according to Bloomberg. It is unclear how many of the 40 managers will go. But the move is part of Project New BAC, Brian Moynihan’s program to make Bank of America more efficient and cut its annual budget by as much as $3 billion.
Swiss Bank Union Bancaire Privee is cutting 100 jobs, most of them in Zurich, as part of a planned restructuring, Reuters reports.
Want a daily digest of articles like this one, plus the latest Wall Street jobs at top-tier organizations? Join 25,000 other Wall Street professionals and subscribe to our free afternoon newsletter. You may also be interested in our Wall Street Job Board, offering hundreds of new jobs at world-class financial institutions.