Swiss multinational bank, UBS Group AG, is reportedly on the verge of introducing significant changes within its global investment banking division. These changes are seen as a continuation of the integration process with Credit Suisse after the emergency takeover in June. An announcement regarding these changes is expected as early as Monday.

Restructuring Deal-Making Groups

According to sources familiar with the matter, the upcoming changes will impact various deal-making groups such as healthcare, consumer and retail, financial sponsors, and equity capital markets.

It is reported that Jeff Rose, UBS's global head of consumer products and retail deals, may potentially exit the bank as part of these changes. Jon Levin, who previously headed Credit Suisse's retail investment banking, is said to be engaged in talks to replace him. Likewise, Matt Eilers, UBS's global head of financial sponsors, is also reportedly in discussions about possibly leaving.

However, it has been indicated that Rob DiGia, UBS's global head of healthcare, will stay with the bank and may assume a chairman-level role.

Reshuffling in Technology, Media, and Telecommunications

In addition to these changes, UBS's technology, media, and telecommunications group is undergoing a reshuffling. Sources suggest that Laurence Braham, who recently joined UBS from Barclays Plc earlier this year, is being considered for the position of global co-head of technology.

Workforce Reductions

UBS had previously announced plans to reduce more than half of Credit Suisse's workforce and eliminate around 35,000 jobs (equivalent to 30% of the combined staff of both banks) following the closure of the merger deal.

Financial Performance

As of year-to-date figures, U.S.-traded shares of UBS have experienced a 17% increase. In comparison, the S&P 500 has risen by approximately 16% during the same period.

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