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UBS offered resilience training as Credit Suisse people swamped its employees

The arrival of Credit Suisse people at UBS was a shock, but in some countries it was more of a shock than others. Today's UBS annual report shows that in the Middle East and Africa, headcount at the bank more than doubled when all the Credit Suisse people arrived. 

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While UBS's headcount in the US rose only 24% in 2023, in the UK it was up 44%, in EMEA it was up 68% and in the Middle East and Africa it was up 121%. 

In total, UBS added over 40,000 people last year. These included 11,435 external hires and 3,700 graduates and trainees. The remaining 25,000 people presumably came from Credit Suisse. 

As we've reported before, the arrival of all these Credit Suisse people hasn't always gone smoothly. Incoming Credit Suisse people have complained of a more bureaucratic culture at UBS and suggested that UBS people felt threatened by them. In turn, UBS people have accused Credit Suisse bankers of misplaced arrogance and an “innate sense of superiority” based on their superior league table rankings. There were complaints, too, that very few ex-Credit Suisse people were promoted to managing director. 

Today's annual report suggests UBS tried hard to resolve the issues. The bank said it introduced a "bespoke eLearning curriculum" to help employees "manage their health, foster well-being, strengthen their resilience and support the sustainability of the organization." It also introduced new guidelines and ran "instructor-led sessions on managing organizational change, uncertainty and resilience," related specifically to the integration of Credit Suisse.

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Photo by Jon Tyson on Unsplash

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AUTHORSarah Butcher Global Editor

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