UBS Group AG has recently decided to lay off four loan syndication bankers in Hong Kong and Singapore due to a decrease in deal flow. This decision was made in response to the negative impact of elevated funding costs on the market.
The bankers, who joined the team during the acquisition of Credit Suisse in 2023, left their positions on Monday. Anonymous sources familiar with the situation have confirmed the layoffs, highlighting the ongoing challenges faced by financial institutions in the current economic climate.