Researchers at UBS are sweating out rumored layoffs... Citigroup is reportedly seeking staff for structured alternative investments.
UBS is rumored to be contemplating equity research redundancies, reports the Financial News. The bank declined comment.
One headhunter calls the rumor pure speculation, but said UBS is a prime target for equity research cuts. "If any bank was going to retrench in research, it would be UBS," he says. "They have far more research resources than any other bank."
Separately, Citigroup wants to fill five or six positions in its structured alternative investments group, according to Securitization News. The newspaper says the bank is seeking portfolio managers, traders and analysts as the unit's business grows, and hopes to fill the positions by the end of the year.