UBS Wealth Management USA has informed dozens of branch managers that they will need to find new positions in the firm by early 2023.

An internal source told AdvisorHub that branch managers' titles were changing to market directors as part of a consolidation announced in November. This reorganization placed divisional roles at UBS under two leaders and decreased the number of market leaders overseeing brokerage branches from 40 to 20 in the private and traditional wealth businesses.

UBS plans to eliminate 30 - 36 branch manager positions nationwide. According to a recruiter, not all branch manager roles will be targeted for elimination. The firm is explicitly targeting managers that have been with the firm a long time, managed large businesses, and paid well. Affected managers were informed of the upcoming change, which will most likely result in reductions to their compensation after bonuses are distributed in February.

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