UBS makes shock exit from outsourced trading game.

UBS has made a shock exit from the outsourced trading game just weeks after appointing a new head of the business, according to multiple sources familiar with the matter.

The Swiss bank has given its clients a three month notice period that it will shutter its outsourced business, The TRADE can reveal. The move comes as the bank looks to ensure its resources are correctly aligned with its global plans.

UBS’ Execution Hub is not being closed and will continue to focus on the bank’s global wealth management and bank for banks clients.

As one of the largest outsourcing firms by number of clients, UBS’ outsourced trading business did well in The TRADE’s most recent iteration of its Outsourced Trading Survey, seeing the second highest client participation in 2024. The bank reportedly has around 100 clients.

Around half of those surveyed (48%) stated that UBS was excellent in The TRADE’s survey, while 22% said the bank’s outsourced service was very good. Just 17% of those surveyed said UBS’ service was satisfactory or below.

Source: Thetradenews