According to people familiar with the matter, Eric Lafon, a veteran who has been with UBS Group for over 25 years, has left his job. This is another top management lost in the company's Asian global markets division. People familiar with the matter said that Lafon, who was previously a joint head of global distribution based in Singapore, reached a consensus agreement with UBS at the end of last year and left his job. A representative from UBS Asia declined to comment. Lafon himself did not respond to requests for comment. One of the people familiar with the matter said that UBS has been evaluating the cost structure, focusing on cutting administrative and non-income-generating jobs. People familiar with the matter also said that management has said internally that it is evaluating support and coordination functions as it seeks to simplify the operating model and improve efficiency.

According to people familiar with the matter, Eric Lafon, a veteran who has been with UBS Group for over 25 years, has left his job. This is another top management lost in the company's Asian global markets division. People familiar with the matter said that Lafon, who was previously a joint head of global distribution based in Singapore, reached a consensus agreement with UBS at the end of last year and left his job. A representative from UBS Asia declined to comment. Lafon himself did not respond to requests for comment. One of the people familiar with the matter said that UBS has been evaluating the cost structure, focusing on cutting administrative and non-income-generating jobs. People familiar with the matter also said that management has said internally that it is evaluating support and coordination functions as it seeks to simplify the operating model and improve efficiency.