The group is restructuring the legal structure of its international wealth management unit, which will help it cut costs and free up billions of dollars to lend to faster growing markets. < / P > < p > people familiar with the project said that the project, named “Reggie” — named after Switzerland’s famous mountain, will transfer large amounts of customer deposits from its Swiss entity to the main legal entity of UBS AG. Because the matter has not been disclosed, people familiar with the matter asked for anonymity. The adjustment will allow UBS to increase lending outside Switzerland. < / P > < p > < p > “Ruiji” project will, to a certain extent, withdraw the measures taken by the bank after the 2008 financial crisis; at that time, the Swiss government asked UBS to set up a separate legal entity, which could provide isolation in case of accidental bankruptcy. The transfer of deposits will help the bank achieve its target of lending rich customers $20bn – $30bn a year in non domestic markets, people familiar with the matter said. < / P > < p > the structural change is one of the reform measures implemented by Iqbal Khan and Tom naratil, CO heads of UBS’s wealth management business. They will cut 500 jobs and streamline the management structure to speed up decision-making and reduce costs. They also split the business for the wealthiest customers and the emerging markets wealth management business into three regions. < / P > < p > after the financial crisis, UBS’s financial management customers who have deposited their funds in Switzerland, even if they live in other countries, are also under UBS’s Swiss entities. Now, most of the international customers with deposits in Switzerland will go to UBS, which, according to a person familiar with the matter, will be more evenly distributed across the group, and regulators are also understood to be satisfied.