People moves in energy markets

Energy Risk catches up with the latest appointments, promotions and departures in global commodity markets


UBS to axe 10,000 jobs

UBS has announced plans to axe 10,000 staff from its fixed income, currencies and commodities division by 2015. The moves are part of a plan to deliver Sfr5.4 billion ($3.65 billion) of annual cost savings at the bank during the next few years, while dramatically reducing its risk-weighted assets (RWAs) under Basel III.

An announcement by UBS says the bank will exit businesses that have been rendered uneconomical by changes in regulation and market developments. While the

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