Financial Businesses Results

The number of personnel in our financial businesses was 83,814 on 30 September 2007, up 2,257 compared with second quarter 2007, with staff levels increasing mainly in the Investment Bank and the wealth management businesses.

The international and Swiss wealth management business added 724 people (of whom 287 were client advisors) compared with second quarter 2007. Much of the increase was in Asia Pacific, Switzerland and Europe, where our business continued to grow particularly quickly. We added 177 new client advisors internationally and 110 in Switzerland. In our US wealth management business, financial advisor levels increased by 193, reflecting a new trainee program as well as the hiring of experienced financial advisors. Non-financial advisor staff in the business fell, mainly reflecting the reduction of personnel in IT. The number of personnel in Business Banking Switzerland was up by 317, largely due to the annual hiring of secondary school graduates as apprentices.

The number of employees in our Investment Bank rose by 533, with increases largely driven by the annual intake of graduate hires in third quarter.

Staff levels in Global Asset Management were up due to the Hana Asset Management acquisition, partially offset by declines related to the closure of DRCM.

Corporate Center staff was up by 456, mainly due to increased personnel in the India Service Centre as well as in IT Infrastructure in support of business growth.