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UBS Cuts 2,000, Return To Profit In '09

UBS Cuts 2,000, Return To Profit In '09
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Feb. 10 (Bloomberg) -- UBS AG, Switzerland's largest bank, plans to eliminate an additional 2,000 jobs at its securities unit and return to profit in 2009 after a record loss last year.

UBS rose as much as 7.7 percent in Swiss trading after saying its wealth and asset management businesses recorded net increases in client investments in January, following 85.8 billion francs ($73.8 billion) in withdrawals last quarter.

Read more on Bloomberg

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