UBS

The promotions broaden the pool of potential candidates to eventually succeed CEO Sergio Ermotti.

After a year marred by huge legal fines, questions about succession planning and a deepening slump in share prices, CEO Sergio Ermotti unveiled a revitalized board and replaced wealth management co-head Martin Blessing.

UBS Global Wealth Management, which oversees more than $2.48 trillion in invested assets, has gone underweight on equities for the first time since the euro-zone crisis.

As much as $18 billion of inflows to money market funds last week were partly driven by the desire to “take some chips off the table,” an expert says.

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.