Industry

The unit’s revenue and profit rose to new highs as productivity per advisor rebounded back to over $1 million.

UBS AG, Switzerland’s biggest bank, said gains at its investment bank fueled an increase in second- quarter profit and announced plans to buy back the fund set up by the central bank in 2008 to help it shed toxic assets.

The new portfolio management and research tool is aimed at advisors in both Raymond James' employee and independent channels.

Global Expansion Keeps CFOs Optimistic Participants in the 2013 Bank of America Merrill Lynch CFO Outlook Mid-Year Update gave the U.S. economy an average score of 58 out of 100. This figure was up from 49 in the last survey conducted late last year. The global economy received a score of 51, up from 45.

As community banks struggle with profitability, one segment offers a large opportunity for new revenue, according to George Noga, senior vice president of revenue enhancement at Fiserv: small business.

Legg Mason announced that it has appointed Dennis M. Kass, an industry veteran, as non-executive Chairman of the Board.

Highland Capital Management had a rough ride after the 2008 crisis, logging four years of outflows from its funds. In June 2012, ING and Ivy funds alum, Brad Ross, wasbrought onboard as president.

Most advisors continue to check in with phone and email messages and continue to do some work even while on vacation. Dave Grant shares the steps he took to completely cut himself off from work for a family vacation.

A replacement for Federal Reserve Chairman Ben Bernanke will not be named by President Obama until this fall according to a senior White House official.

George Crosby, the former head of HSBC’s Brazil team, will oversee all activities covering the Latin American markets in the U.S.