Commodities head Morgan Metters departs UBS

In October, UBS announced that it was reducing headcount by 2000, with a target staff level of 17,000 by the end of the year. The move was part of a repositioning of the investment bank's fixed income currencies and commodities business. The commodities desk, excluding precious metals, is being closed as part the reduction, but the commodities indexing business, which is part of the equities division, was set to remain intact.

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