UBS axes comms in wake of SBC merger

The London corporate communications department at the Union Bank of Switzerland (UBS) has been wound up with a total of 18 communications staff leaving.

The London corporate communications department at the Union Bank of

Switzerland (UBS) has been wound up with a total of 18 communications

staff leaving.



Heading the list of those moving on in light of the UBS merger with SBC

(Swiss Bank Corporation) are acting director of European corporate

communications Alan Ogden and press officer Paddy McGregor, who both

joined UBS from Hill and Knowlton last year.



As expected, and as in the rest of the company, the fall-out from the

merger has come from UBS rather than SBC (PR Week, 12 December

1997).



Ogden’s long-term plans are unclear. At time of going to press he was

holidaying in Eastern Europe. McGregor is joining the Royal Bank of

Scotland’s subsidiary RBS Trust Bank to head its media relations

department. RBS Trust is a custody management company, providing

financial services such as investment trusts.



A UBS spokeswoman said: ’People here have decided not to take up offers

in the new organisation.’ However, it is unclear how many of the

departing communications staff were actually offered jobs.



The asset management arm of UBS has been rolled into Warburg Dillon

Read, SBC’s asset management division. Corporate communications for

Warburg Dillon Read is run by head of corporate communications Kerry

Underhill.



A skeleton in-house team remains at UBS in London until the merger

process is complete. The bank brought in Bell Pottinger two months ago

to advise on the merger process and to handle corporate PR. This

relationship continues.



The merger of UBS and SBC created the world’s second largest bank and

leading asset manager with pounds 598.8 billion under management.



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