UBS

New COO is pitching firm’s name, platform — and capital.

Ermotti last week outlined how the bank is seeking to win over American billionaires by boosting recruitment.

There were 53 new billionaires in the U.S. this year, and 14 of them were women.

Sergio Ermotti is under pressure to show investors how the bank can reap greater profits from a merger of its two wealth management businesses.

“This is a chance to redesign core systems, some of which go back to PaineWebber,” says Tom Naratil, president of UBS Wealth Management Americas.

Clients have filed hundreds of similar claims against UBS since 2013, with aggregate damages of $2.6 billion.

The new hires come almost a year after the two firms quit the Broker Protocol.

Wirehouses’ overzealous overhauls of compensation rubrics convey a message of instability to financial advisors.

Family offices saw a growth in returns last year fueled by soaring stock markets and private equity.

An alphabet soup of confusing terminology is hindering clients and advisors from identifying portfolio opportunities.