The Monetary Authority of Singapore (MAS) is closely observing the potential job impacts following UBS’ acquisition of fellow Swiss bank, Credit Suisse. The MAS has urged the banks to handle any manpower implications responsibly. While the details of these implications are still being finalized, the regulator assured that there would be no interruptions to the banks' Singapore operations, as they will continue to operate under separate licenses. The MAS stated that the banks have established governance structures to ensure a smooth integration of their Singapore operations, which primarily involve private banking and investment banking. The authority continues to stay in close contact with the Swiss Financial Market Supervisory Authority (Finma) and the banks themselves regarding the integration.
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