InMarketing Today

UBS has cut roughly 200 London staff in recent weeks as it completes its absorption of Credit Suisse, Private Banker International reports today, citing Bloomberg. The cuts span wealth management and investment banking and were confirmed through internal announcements; some staff have been offered other roles inside the bank. Group headcount reached nearly 120,000 after the rescue and has since fallen by roughly 18%, and chief executive Sergio Ermotti expects the integration to finish before the year ends.

A UBS spokesperson declined to comment on the figures. That is a choice, not a neutral act. The number now in circulation comes from people speaking anonymously, and it sits beside an older Bloomberg report of a 30% headcount target that the bank has never publicly confirmed or corrected. In wealth management, where client relationships follow the banker, the audience for a job-cuts story includes clients wondering who will answer their call and rival recruiters drawing up lists. Silence leaves both to fill in the gaps.

If you are restructuring, assume the internal announcement will reach the press within days and write the external line before you send it. Tell affected clients who now looks after them before they read about it elsewhere. And if you will not give a number, give a frame: what is changing, why, and when it ends. Declining to comment on the figures does not stop the figures; it only means someone else chooses them.

The Depository Trust & Clearing Corporation (DTCC) launched its tokenisation service last week, and chief executive Frank La Sala told a New York conference: "We just got $30 trillion on-chain." Global Finance reported yesterday that the figure is the market value of 34 securities now eligible for tokenisation, not assets already tokenised. Tokenised real-world assets total roughly $400 billion today, a figure the Citi Institute thinks could reach $5.5 trillion by 2030.

The sentence will be quoted far more often than its correction, which is the risk in any headline number. The stronger claims came later in the same session. Member firms told La Sala that tokenised repo could save them 20–30% on the balance sheet, and he described dollar collateral reaching Asian borrowers before New York wakes up. Chainlink's Sergey Nazarov put it plainly: "After you tokenize something, there has to be utility." The costs are real too: State Street's Sam ten Cate said on-chain custody can cost up to 15 basis points, against under 10 for traditional assets.

If you publish a figure in a digital assets announcement, put its basis in the same sentence, before a journalist does it for you. Lead with the client outcome, such as balance-sheet savings or weekend liquidity, rather than the size of the pipe. And answer the custody cost objection openly, because institutional buyers will raise it in the first meeting.

Bluesky recorded its highest daily number of posts, replies and likes this year on US midterm election night, TechCrunch reports today. Open-source data shows 44 million likes, 4.8 million posts and 2 million new follows in a day, just short of the platform's all-time record of 45 million likes. Chief executive Toni Schneider posted that posts and likes doubled; chief operating officer Rose Wang told TechCrunch that daily posts rose 30% and likes 70% against their 30-day averages, with link clicks up 20%.

Both statements may be true on different baselines, a peak hour against a daily average. Published side by side, they read as a discrepancy, and the more modest figure is the one a sceptic remembers. There is a second lesson for business-to-business (B2B) marketers. This surge was driven by an election, and TechCrunch notes the platform's user base skews left. A spike on a night of political news says little about whether your buyers are there on an ordinary Tuesday.

When you report growth, name the baseline in the same breath, and agree one set of figures before any executive posts them. If you are weighing Bluesky as a channel, judge it on a quiet week, not a peak night. And watch link clicks, up a fifth, more closely than likes: they measure attention you can take somewhere, which a like does not.