UBS Wealth Management

The recruits will operate from a new Cincinnati office.

The former broker bilked more than a dozen former clients over an eight-year period, prosecutors said.

The $314 million team made the change after deciding it was a better fit culturally

It’s been death by a thousand cuts as a steady stream of top talent strikes out on their own.

The firm has been aggressively recruiting wirehouse talent.

In the U.S., investors pulled $174 billion out of active equity funds last year as stock pickers struggled to outperform their benchmarks.

Increased volatility, rising protectionism and geopolitical tensions are still weighing on investors, the firm said.

Overseeing money for the rich is supposed to be one of the best businesses in banking, but even the world’s biggest wealth manager is finding that it doesn’t always work out like that.

The firm is embracing a playbook beloved by hedge funds: a slew of options trades.

The new hires came at the expense of Merrill Lynch, Morgan Stanley, UBS and Hilliard Lyons.

The following 17 teams oversaw about $75 billion in assets. The firms ending the year with prize recruits include a diverse cast: regional BDs, wirehouses, boutiques and RIAs.

A major Times Square development has secured more than $780 million in new equity, including about $400 million from UBS’s ultrahigh-net-worth and family office clients.

It’s another high-profile addition for the firm led by ex-Morgan Stanley executive Greg Fleming.

Jason Chandler will oversee the firm’s roughly 6,900 advisors.

The firm is changing course in response to a shifting regulatory landscape and advisor feedback.

Competitive pressures from the industry’s smaller players are changing the wirehouse playbook.

Building scale has become a key topic for asset managers across Europe amid sustained pressure from larger U.S. rivals.

Sergio Ermotti is under pressure to show investors how the bank can reap greater profits from a merger of its two wealth management businesses.