UBS

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.

The firm employs just short of 70,000 people in 50 countries and had 80% of its worldwide staff at home during the height of the pandemic

“The stocks that I hadn’t heard of three months ago all of a sudden are the most active — that’s not where investors go, that’s where traders might go or hobbyists might go,” says a private wealth advisor at UBS.

The venture fund comes just months after UBS named ING's Ralph Hamers, an outspoken champion of digital banking as its next CEO.

The wirehouse, which has reduced recruiting efforts, enticed the team over from AllianceBernstein.

One defecting advisor says she was lured by better technology and because at her new employer, “It’s about the people and not just the numbers.”

Production companies claim fraudsters bilked them out of $3.5 million under the bank's watch.

The firm’s diminished ranks are a sign of huge changes in the wirehouse world since the financial crisis ended.

“We didn’t need to physically travel to see that RBC was the ideal place to move our practice,” ex-UBS advisor says.

New chief product officer Michael Korcuska’s resume includes Weight Watchers and LinkedIn instead of finance or technology.

“The world has become more digital, less global and more local,” says Amy Lo, co-head of the firm’s Asia Pacific wealth division.

Equities have rallied more than 20% from March lows, but remain well below 2020 highs.

The firm's wealth management unit saw new demand for credit, according to CEO Sergio Ermotti.