UBS

The project includes moving large customer deposits out of its Swiss entity into the bank’s main UBS legal unit, people familiar with the matter say.

The new additions oversaw more than $275 million at their former employers.

There are currently no plans to replace the longtime wirehouse leader, whose responsibilities will be divided among other executives.

They all spent over a decade at their former firm.

The new additions help offset some recent departures at the wirehouse.

Any tax increases on high-income individuals and corporations would be offset by massive spending packages targeted at accelerating the country’s recovery from the coronavirus, according to the firm.

An all-woman team joined the firm in Miami while a branch manager is installed in a new Northern California office.

Procyon Partners, which caters to UHNW clients and retirement plans, had a rocky separation from the same former firm.

The move follows efforts to reduce expenses in the company’s global wealth management business.

This is the latest case to involve improperly allocating bonds meant for retail customers and instead selling them to other market participants.

CEO Sergio Ermitto said "buybacks have been demonized way too much."

The chief executive outlined a future where offices need not be fully staffed.

A lawsuit will turn on whether UBS can demonstrate that Alexandra Van Meurs violated contract agreements when she and her team jumped to Morgan Stanley.

The advisors are based in Florida, while the new executive will oversee the New York tri-state area.

Funds that follow a similar approach lost 5.1% over the period, according to Hedge Fund Research.

Some of the defecting advisors had been long-time advisors at their former wirehouse before making the move.

After logging 27 years at the firm, the advisor is starting his “next 25-year chapter” as an independent.

The wirehouse says it wants to simplify pricing for separately managed accounts and expand client choice.

The firm employs just short of 70,000 people in 50 countries and had 80% of its worldwide staff at home during the height of the pandemic

“The stocks that I hadn’t heard of three months ago all of a sudden are the most active — that’s not where investors go, that’s where traders might go or hobbyists might go,” says a private wealth advisor at UBS.