UBS has launched a new series of senior management job cuts within its securities unit as it gets out of real estate, securitization and “exotic” structured products.

The memo, dated Jan. 21, outlined that bankers Todd Morakis, Sascha Prinz, David Sacco and Chris Ryan will depart UBS, which is also getting out of the municipal bonds and proprietary trading, as well as all commodities businesses except for precious metals.

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