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He was successful, had a name in the industry, and yet had lost his previous job. We’re talking about Roman Reichelt (40), global marketing manager at Credit Suisse.
The senior manager position is rationalized in the big bank taken over by UBS. The financial portal Finews.ch reports with reference to an internal disclosure. At the end of April, Reichelt will be sacked and his post will no longer be filled. Instead, he will support the integration of his team into UBS in an advisory capacity until early July 2023. What happened to him afterwards is unknown.
UBS style strategy
A glorious future with the new banking giant looks highly unlikely for Reichelt. Research by finews.ch shows that the entire department will continue with a UBS-style strategy. Unlike Reichelt’s previous department, this department is not centralized and is now divided into seven service departments.
What does this mean for the 270 employees in the CS marketing department? It’s already smaller than its 500-plus-employee counterpart at UBS, and there won’t be room for nearly everyone in the new department. It is also clear that Credit Suisse employees must apply to UBS. Even the jobs of UBS employees are not considered safe. There are signs of fierce competition for new positions.
Is it the start of head rounding?
With the upcoming reorganization of the marketing department, the fears of CS and UBS employees seem to be coming true. They feel neglected in the discussion about the future of the two big banks. Fears of a wave of layoffs are brewing in the offices of the two banks.
Because in the Swiss business, the two banks have had multiple conflicts so far. What will happen in the marketing department over the next few months may soon be repeated elsewhere.
This also applies to carpeted floors. At UBS, the head of the Swiss business is currently Sabine Keller-Busse (58). His colleague at Credit Suisse is André Helfenstein (56). Whoever takes the lead in the Swiss business in the future will likely influence the remaining CS and UBS employees in Switzerland. (ste)
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.
