UBS

Almost a year after taking over at the firm's investment bank, co-heads Piero Novelli and Rob Karofsky are working on their first shake-up of the business.

The bank, which has made wealth management its central focus, plans to charge its Swiss clients an annual fee of 0.6% on deposits of more than 500,000 euros.

Profitability is improving and all divisions, except the firm’s biggest — wealth management — surprised the market on the upside.

The declining headcount comes even as the firm pulls in several big hires.

The wirehouse’s pipeline for incoming brokers is at a two-year high.

New products give institutional investors a fresh way to exploit the rise of machines.

Advisors can’t underestimate the emotional toll an exit can impose.

They say banks have good policies but discourage use of them.

The “materiality of risks with not considering" the strategy is the primary consideration for its implementation, a UBS survey finds.

The firm had cut back on hiring efforts in 2016, citing exorbitant costs.