02:43 PM EDT, 05/15/2024 (MT Newswires) -- UBS (UBS) is making changes to the leadership of its asset management division in an attempt to integrate and streamline the unit's product offering while cutting costs, Bloomberg News reported Wednesday, citing an internal memo from head of asset management Aleksandar Ivanovic.

"We are also yet to see the full impact of integration on our flows and revenue run rate as we consolidate our product offering and clients continue to assess our progress," he was quoted as saying in the memo.

UBS did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 30.62, Change: +0.45, Percent Change: +1.51