UBS

The broker-dealer has also appointed a new northeastern regional director for its independent contractor division.

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

The cases are among a series of such obstacles UBS has faced since the start of the financial crisis, including a $1.5 billion fine in 2012 for rigging the Libor benchmark.

New COO is pitching firm’s name, platform — and capital.

Ermotti last week outlined how the bank is seeking to win over American billionaires by boosting recruitment.

There were 53 new billionaires in the U.S. this year, and 14 of them were women.

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

“This is a chance to redesign core systems, some of which go back to PaineWebber,” says Tom Naratil, president of UBS Wealth Management Americas.

Clients have filed hundreds of similar claims against UBS since 2013, with aggregate damages of $2.6 billion.

The new hires come almost a year after the two firms quit the Broker Protocol.