瑞银(UBS)警告称，其投资银行部门将进一步大幅裁员。作为在美国次贷危机中损失最惨重的欧洲银行，瑞银简要介绍了收缩投资银行业务的计划。自去年夏季以来，该项业务导致瑞银在美国信贷业务上损失逾370亿美元。

UBS warned of further big job losses in investment banking¹ as the biggest European casualty of the US subprime crisis outlined plans to shrink the operations that contributed to its losing more than $37bn on US credits since last summer.

瑞银首席执行官马塞尔?罗内尔(Marcel Rohner)在巴塞尔向股东表示，将于下月公布进一步裁员的具体细节。有关消息将在5月6日与瑞银第一季度业绩同时发布，预计裁员人数将超过次贷危机以来已经裁减的1500人。

Addressing shareholders² in Basel, Marcel Rohner, chief executive, said further job cuts would be detailed³ next month. The announcement, which is expected to see bigger cuts than the 1,500 jobs lost since the subprime crisis, will accompany the group’s first quarter results on May 6.

新一轮裁员行动表明瑞银决心撤离使其出现巨额减记的自营交易业务，并将更多的注意力放在其强大的私人银行业务上。 The new round of job reductions reflect UBS’s determination to pull back from the proprietary⁴ trading that contributed to its massive writedowns and focus more on its powerhouse private banking franchise⁵.

瑞银首席法律顾问彼得?库勒尔(Peter Kurer)强调了从雄心勃勃要成为全球顶级投资银行向把重点放在财富管理业务的转变。他被选为董事长以接替马塞尔?奥斯佩尔(Marcel Ospel)，但遭到了约14%股东的反对。

That shift from ambitions to become one of the world’s top investment banks to focusing on wealth management was underlined by Peter Kurer, the group’s general counsel, who was elected chairman to succeed Marcel Ospel, albeit⁶ with a revolt by about 14 per cent of the shareholders.

库勒尔表示，瑞银将顶住打破其投资银行、私人银行及资产管理业务“混合”模式的呼声，但他明确指出，财富管理“最终是我们的核心业务”。

Mr Kurer said UBS would resist calls to break up its “integrated” model of investment banking, private banking and asset management, but he noted⁷ pointedly⁸ that wealth management was “ultimately our core franchise”.

瑞银一直在收缩资产负债表，并撤离自有账户交易。罗内尔表示，瑞银还将消除“交叉补贴”(cross-subsidisation)的做法，这种做法使交易员得以利用来自私人银行部门的廉价资金，以建立巨大的次贷头寸。

UBS has been shrinking its balance sheet and withdrawing from trading on its own account. Mr Rohner said it would also eliminate the cross-subsidisation that had allowed traders to exploit cheap funding from private banking to amass⁹ massive subprime positions.