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Headcount
Headcount in our financial businesses was 67,424 on 31 December 2004, up 530 from 66,894 on 30 September 2004. In the Wealth Management business (up 255), we integrated Sauerborn Trust in Germany and continue to hire employees, particularly in Asia. Headcount at the Investment Bank rose 306 as we integrated the Charles Schwab capital markets business. Wealth Management USA increased headcount by 178 as it added financial advisors. We saw a drop of 251 in the Business Banking Switzerland unit, reflecting further investments in technology and automation.
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