New questions over the future of star UBS banker Matthew Grounds

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Speculation that UBS chief executive Matthew Grounds is set to take a step back from the investment bank’s top job has been circulating for more than a decade. This time, CBD hears, it could be real.

Grounds has been telling a select number of friends and colleagues he wants to make some changes after a lengthy career at UBS, including a stint as its global co-head of investment banking.

The retirement of UBS chief executive Matthew Grounds has been the subject of local speculation for years.

The retirement of UBS chief executive Matthew Grounds has been the subject of local speculation for years.Credit:Louis Douvis

If Grounds was to depart, it would mean a significant change to the dominant investment bank in Australia just days after one of its largest rivals, Deutsche Bank, made a decision to shrink significantly.

UBS insiders had earlier this week told CBD it was unlikely Grounds would be gone this year.

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