UBS

The move follows efforts to reduce expenses in the company’s global wealth management business.

This is the latest case to involve improperly allocating bonds meant for retail customers and instead selling them to other market participants.

CEO Sergio Ermitto said "buybacks have been demonized way too much."

The chief executive outlined a future where offices need not be fully staffed.

A lawsuit will turn on whether UBS can demonstrate that Alexandra Van Meurs violated contract agreements when she and her team jumped to Morgan Stanley.

The advisors are based in Florida, while the new executive will oversee the New York tri-state area.

Funds that follow a similar approach lost 5.1% over the period, according to Hedge Fund Research.

Some of the defecting advisors had been long-time advisors at their former wirehouse before making the move.

After logging 27 years at the firm, the advisor is starting his “next 25-year chapter” as an independent.

The wirehouse says it wants to simplify pricing for separately managed accounts and expand client choice.