UBS

Employees indicated they want more personal time and women in particular have sought greater flexibility to work remotely, its co-head of wealth management says.

The bank is winding down the roughly $40 billion international segment of its wealth management business.

The team caters to wealthy clients and athletes, and specializes in private placement life insurance.

Strong 2020 returns have given a boost to the Swiss bank's new CEO, Ralph Hamers, whose start has been overshadowed by a Dutch probe into his role in a money laundering scandal at his former employer.

The firm pivoted away from an aggressive hiring strategy in 2016 and has seen a substantial drop in costs associated with picking up experienced talent.

Collectively, the brokers generated $167 million in annual production and oversaw $37 billion in combined client assets.

The results underscore the standout performance of the industry's largest firms in equities, a business where Europe’s banks have struggled to keep up in recent years.

These elite producers in some cases operate far from Wall Street, even as they work for well-known wealth managers such as UBS, Merrill Lynch and Ameriprise.

As Wall Street jumps on the Bitcoin rally like never before, the firm says existential risks could threaten the industry over the long haul.

The new additions join a set of big hires at the wirehouse.