UBS

The 17-member team is one of the largest to switch employers in recent years.

The operation will start with six employees and offer services to boutique firms that don’t have the capabilities of a large private bank.

The changes are the firm's latest steps in a broad reorganization of its wealth management business since it hired Iqbal Khan from rival Credit Suisse.

The additions came amid a revamping of the firm’s independent advisor compensation.

So much faith has been put on the partial trade deal with China that stocks have nearly recovered since President Trump’s first round of tariffs on imports.

The firm is looking for ways to maintain its edge and reinvigorate its shares, which have trailed rivals over the past year.

In 90% of families, wealth disappears by the end of the third generation.

The wirehouse last made changes to its compensation plan in 2016.

The Wall Street executive founded three companies, including private-equity firm Lightyear Capital.

Like other bank-owned asset managers, the division is under pressure from new regulations such as MIFID II and a protracted shift toward passive investing.

The move underscores wealth managers’ increasing focus on the not-yet-fabulously rich to boost profitability.

The wirehouse brought on 10 advisors from several rivals.

After a recent policy switch, many clients at the wirehouse can no longer use balances from their deposit accounts to purchase shares in these funds.

Nearly $388 billion of the super rich's net worth has been wiped away since 2016.

The strategy mimics one the executive used to boost profit at his previous employer, cross-town rival Credit Suisse.

The changes follow the firm’s recent move to cut some client fees on separately managed accounts.

It’s the sixth team to join JPMorgan Chase’s boutique brokerage in 2019.

Christine Carona's former boss allegedly made derogatory comments about her personal life in front of UBS employees, according to the arbitration ruling.

Sergio Ermotti is under pressure to lift a stock that has trailed peers for a year.

The policy shift affects the wirehouse’s separately managed accounts.