They Prefer Generic Managers, Not Experts - Head of Brand & Creative UBS Asset Management Employee Review

Pretty nervous culture due to near constant layoffs of small numbers of people. UBS respects all-purpose managers to do reorgs, hiring & firing. They do not prioritize subject matter expertise outside core functional areas, e.g, investments, financial analysis, etc. So, those hired to lead functional areas with special expertise, like marketing for example, are dispensed regularly. Other firms contain layoffs within defined periods, UBS, in my experience, lays people off on a regular, rolling basis. Some people referred to it as a "firing factory" where upper managers, despite lacking functional expertise, are repositioned over functional areas regularly to strip them and move on to the next.