UBS(US:UBS) ZACKS·2026-02-12 19:11Core Insights - UBS Group AG plans to hire up to 3,000 employees in India as part of its expansion strategy while reducing headcount in Switzerland due to the integration of Credit Suisse [1][10] Group 1: Hiring and Workforce Changes - UBS is set to add between 2,000 and 3,000 roles in Hyderabad, effectively doubling its workforce in the city to enhance technology and operations capabilities [4][10] - The company has previously announced plans to cut around 3,000 jobs in Switzerland, primarily through natural attrition and early retirement measures, with most reductions expected by 2026 [2][10] - As of December 31, 2025, UBS reported a total workforce of 119,589 employees, having reduced headcount by 2,793 positions sequentially and by 9,394 roles year over year [3] Group 2: Industry Trends - India has emerged as a key hub for global financial firms seeking access to technology talent and cost-efficient operating models, with firms like BlackRock and Citigroup also expanding their operations in the country [5][6][7] - BlackRock plans to add around 1,200 jobs in India to enhance its artificial intelligence and data analytics capabilities [6] - Citigroup is reallocating 1,000 technology jobs to its Indian business support centers following staff reductions in China, highlighting the importance of India-based global capability centers [7] Group 3: Integration and Cost Efficiency - UBS is making steady progress in the integration of Credit Suisse, with around 85% of Swiss-booked client accounts migrated and the transition of Personal & Corporate Banking clients largely completed [8] - The bank achieved an additional $0.7 billion in gross cost savings during the fourth quarter of 2025, bringing cumulative gross savings to $10.7 billion, with a target of $13.5 billion by the end of 2026 [9][10] - Integration-related expenses are expected to total around $15 billion by the end of 2026 [9]