UBS Group AG plans to cut approximately 90 jobs in its Asia private wealth and investment banking sectors by March, responding to the downturn in China’s stock market and a slowdown in dealmaking. The proposed job cuts include about 70 positions in private banking and 20 in the global banking division, primarily affecting relationship managers and support staff in Greater China and Singapore. This decision comes in the wake of significant wealth declines in the Greater China region, due to ongoing property crises and economic challenges, marking one of the largest retrenchments in Asia’s private banking sector. The move follows a trend of job reductions by global banks in Asia amidst a prolonged deal-making slump.