UBS

As much as $18 billion of inflows to money market funds last week were partly driven by the desire to “take some chips off the table,” an expert says.

Almost a year after taking over at the firm's investment bank, co-heads Piero Novelli and Rob Karofsky are working on their first shake-up of the business.

The bank, which has made wealth management its central focus, plans to charge its Swiss clients an annual fee of 0.6% on deposits of more than 500,000 euros.

Profitability is improving and all divisions, except the firm’s biggest — wealth management — surprised the market on the upside.

The declining headcount comes even as the firm pulls in several big hires.

The wirehouse’s pipeline for incoming brokers is at a two-year high.

New products give institutional investors a fresh way to exploit the rise of machines.

Advisors can’t underestimate the emotional toll an exit can impose.

They say banks have good policies but discourage use of them.

The “materiality of risks with not considering" the strategy is the primary consideration for its implementation, a UBS survey finds.

The firm had cut back on hiring efforts in 2016, citing exorbitant costs.

Bullion is “once again trying to reclaim its role as a safe haven” amid trade war concerns and the Fed’s halt on rates, a strategist said.

Swiss banks face pressure across Europe, with prosecutors in France, Germany and Italy accusing them of helping clients hide money from tax authorities.

BlackRock will appoint an “independent fiduciary to vote” on proxies, according to a spokesman.

CEO Sergio Ermotti has resisted pressure from some investors for large-scale layoffs, opting instead for smaller cuts with less impact on morale.

The RIA is the largest firm to depart the protocol in more than a year and a half.

“We see optimism, but a guarded optimism,” says Mike Ryan, Americas chief investment officer at UBS Global Wealth Management.

The bank allegedly helped French clients evade taxes.

The changes follow a challenging first quarter for the firm’s wealth management operations.

The firm said earlier this year that it would deepen cost cuts.