UBS slashes Asia ESG office by half

Its Asia team now has just three employees, sources said.

UBS Group has slashed its sustainability office in Asia by half as part of a global restructuring, reports Bloomberg, citing people familiar with the matter.

The German lender reduced its seven-person Asia team to three employees, the sources said.

The departures include three staff members in Hong Kong, two of whom were executive directors, they said.

UBS’ global staffing within its chief sustainability office has shrunk to about 35 employees from more than 100 in mid-2023, one of the people said.

A spokesperson for UBS declined to comment on the specific job cuts but said the firm is changing how it handles ESG issues.

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