"Of the expected... redundancies, approximately 45% will come from the investment bank, 35% from wealth management and Swiss bank, 10% from global asset management, and 10% from wealth management Americas, " the bank said in its statement.

BBC: UBS logo

"Businesses are reopening gradually, and the situation is returning to normal, " said a statement from the Harris County Homeland Security and Emergency Management.

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Mr. Mistry said in a separate statement he will "legally dissociate" himself from the management of his family businesses to avoid any conflict of interest.

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