UBS Wealth Management Americas made some cuts at its headquarters that some market observers say were widely expected, but the next step will hit closer to home for advisors.

The company cut about 200 back-office jobs, mostly in New Jersey, but some of those cut were high-level managing directors including Doug Black, the chief operating officer of private wealth management for ultra-high-net-worth clients; Jay Messing, the head of private client sales; James Pierce, a vice chairman in the wealth management Americas unit; Michael Roberts, head of trust services in the wealth planning group; and Jamie Price, the former head of the wealth management advisor group, who was most recently working with key clients, business strategy and development.

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