UBS Group is shutting down its outsourced trading division, which has ranked among the largest on Wall Street in recent years. People familiar with the matter revealed that the company began communicating this decision to customers and gave them three months to find new suppliers. A person familiar with the matter, who asked not to be named, said that UBS will not close the execution center. A UBS spokesperson said in a statement: “We will continue to focus on growth and remain committed to serving our customers through our broad and leading global market products.”

UBS Group is shutting down its outsourced trading division, which has ranked among the largest on Wall Street in recent years. People familiar with the matter revealed that the company began communicating this decision to customers and gave them three months to find new suppliers. A person familiar with the matter, who asked not to be named, said that UBS will not close the execution center. A UBS spokesperson said in a statement: “We will continue to focus on growth and remain committed to serving our customers through our broad and leading global market products.”