Ubs appears set to hire more investment bankers in the US and EMEA regions, despite a quarter when profits at the division were down 40% compared with the same period a year earlier. Despite this decline, UBS officials said the results reflected the resilience of the unit's new structure, and hinted that the bank could hire more staff in the corporate client solutions business, which houses ECM, DCM, advisory, financing solutions and risk management. In the last quarter the bank hired 245 new staff at the investment bank, the first time the division has seen an increase in headcount since the third quarter of 2012 when it added 106 workers (see chart). While the figure is not particularly large, it is a remarkable turnround for a bank that has cut thousands of jobs since the division was radically restructured in December 2012.
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