UBS

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.

It’s a topic that’s been forced into the open in recent weeks, testing a long-standing partnership between the chief executive and Chairman Axel Weber.

Advisors Daniel Conners and Michael Crawford were looking for new tech and more comprehensive planning offerings for their clients.

A member-owned market is the wrong response to rising fees.

By sending orders to an exchange they own, banks and brokers presumably can save money on trading costs.

With global growth set to slow in 2019 and central banks poised to shrink their balance sheets, the time is ripe for UBS to freshen up a strategy that had once served it so well.

The firm is laying the groundwork after high-profile departures in the past year or so, including top dealmaker Andrea Orcel and wealth-management head Juerg Zeltner.

The firm has recruited 22% more advisors in 2018 than the year-ago period.

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

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.