UBS

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.

Jason Chandler will oversee the firm’s roughly 6,900 advisors.

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.

Wirehouses’ overzealous overhauls of compensation rubrics convey a message of instability to financial advisors.

Family offices saw a growth in returns last year fueled by soaring stock markets and private equity.