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For Credit Suisse employees, tremors have been commonplace for months. Because not all of them will get jobs at the new UBS – many will have to leave. Uncertainties inflame the gossip mill: 35,000 job losses are reported. Jonas Neff, 43, personnel adviser at Biermannneff in Zurich, says there is no panic because of this, but uncertainty among employees is still great.
“Several hundred CS employees have actively reached out to us since March 19,” Neff told Blick. The HR consultant does a lot of interviews, but most are speechless. “They’re still a little hesitant and want to see the new builds first,” Neff says. Some CS employees have to repay some of their bonuses if they are laid off – another reason they persevere.
Customer base hosts opportunities
Neff also explains: “Employees with strong customer relationships have a good chance of positioning themselves in whatever field.” He sees the problem elsewhere: The people with the best luck are the first to act. “On the other hand, people who are more difficult hardly move at all.”
Erik Wirz (54) of Wirz & Partners agrees. The Swiss bounty hunter says: “People who move are good people. UBS won’t be happy if they go.” Wirz specializes in executive positions.
Headhunter is of the opinion that people with a large client portfolio are particularly in demand. “International banks, private banks, as well as international asset managers are very active,” Wirz explains. Women have an advantage, too: They’ve been generally more in demand than men for years.
Replication in the back office
On the other hand, people in the back office are likely to have a hard time. When CS is fully combined with UBS, there will be a lot of repetition. Because you don’t need two IT, finance, control, operations or HR teams. “Then it will be difficult for these people,” Wirz explains.
Klaus Uhl (53) sees a great opportunity for people from IT or HR. He works for relocation provider Von Rundstedt. The relocation provider supports people in their professional redirection. This service is usually funded by the former employer. In contrast to personnel offices: there the new employer pays for a successful placement.
People from IT or human resources have the advantage of being less tied to the banking or financial industry. They are also in demand in other sectors. But bounty hunter Wirz says they didn’t earn that well there.
“It’s going to be harder for people who work in areas that have a lot in both big banks, such as compliance, marketing and communications, or multiple staff functions,” says Uhl. However, he advises affected CS employees not to act now. “Everyone should ask themselves first: Do I have a clear position and can I present it convincingly,” Uhl said. says.
But he also warns against being passive and hoping to get an offer from merged UBS. Because one way or another, they have to leave.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
