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Two more UBS execs resign over trading fallout
UBS AG, Switzerland's biggest bank, said Francois Gouws and Yassine Bouhara resigned as co-heads of global equities following the $2.3 billion unauthorized trading loss detected last month.
UBS CEO Gruebel resigns following $2.3B trading scandal
Oswald Gruebel, chief executive officer of UBS AG (UBSN) since February 2009, resigned his post at Switzerland's largest bank after a $2.3 billion loss from unauthorized trading.
Volcker rule would affect rich clients most
As work begins on the final version of the Volcker rule, wirehouse financial advisers say that their high-net-worth clients would feel the biggest impact from any new regulations that placed investment restrictions on financial institutions
With little fanfare, Trust Company of America taps new CEO
Barry takes helm at custodian as Maiorano resigns; new boss once piloted helicopter company
Trader scandal may hamstring UBS’ recruiting
Just when it seemed UBS was regaining its feet after the financial crisis, Kweku Adoboli has thrown the Swiss bank back into turmoil.
New UBS boss: U.S. brokerage not for sale
In an internal memo obtained by Reuters, the new boss of UBS says the bank's U.S. brokerage is not being shopped -- despite rumors to the contrary. | PR disaster could curtail UBS' generous recruitment packages | Extra What top RIA execs make
$2.3B loss could gut bonuses at UBS
Swiss bank may also have to reduce headcount even further
Merrill Lynch grabs UBS team, UBS grabs back
A four-man team of advisers from UBS Financial Services Inc. who manage $277 million in assets with trailing-12-month production of $2.5 million has joined the Palm Beach, Fla., complex of Bank of America Merrill Lynch
UBS, Morgan Stanley subpoenaed over reverse convertibles
Georgia requested information from UBS, Morgan Stanley and Ameriprise Financial in its probe over whether the firms broke the state's securities laws in sales of structured notes called reverse convertibles.
UBS snags team of $3M producers from Merrill Lynch
UBS Financial Services Inc. has hired three longtime Merrill Lynch & Co. Inc. financial advisers who manage $450 million in assets and produced $2.85 million in fees and commissions over the past 12 months, the firm said last week
Schwab claims banks manipulated Libor
Eight Schwab mutual funds and related entities are the latest plaintiffs to sue a number of global banking…
Financeware sues UBS over patent
Financeware Inc., the parent of Wealthcare Capital Management IP LLC, has sued UBS Financial Services Inc. for patent…
Financeware sues UBS and makers of MoneyGuidePro for patent infringement
Financeware Inc., the parent of Wealthcare Capital Management IP LLC, has filed suit against UBS Financial Services Inc.
UBS Wealth Management to feel the pinch as job cuts loom
Call it a signal of distress. Oswald Gruebel, boss of UBS AG, plans on eliminating 5.3% of the bank's workforce. This comes on top of scrapping the Swiss giant's profit targets. Both the wealth management group and wealth management Americas will feel the pinch.
UBS to pay ex-76ers owner $2M over sale of ‘100% principal-protected’ notes
Notes didn't protect Croce's principal -- once issuer Lehman went belly up; at least 40 cases still pending
Analyst: MSSB ‘checkmated’ by BofA, UBS
Morgan Stanley's brokerage unit must keep compensation high to retain top financial advisers because Bank of America Corp. and UBS AG are looking to poach employees, an analyst said
Wirehouses saw little turnover in the past year
Financial adviser turnover at the four wirehouses — Morgan Stanley Smith Barney LLC, Bank of America Merrill Lynch, UBS AG and Wells Fargo & Co. — dropped to near-historic lows over the past 12 months
McCann do: UBS wealth management sees huge jump in profit
Unit reports nearly eight-fold increase in pretax earnings; rich clients finally returning in force
UBS ‘business model is gone’ — and rich clients could follow
Can new UBS boss Sergio Ermotti turn things around at the misfiring bank? To do so, he must reshape the Swiss giant's i-bank unit. And he must do this while convincing clients of the wealth management unit to stay following the bank's latest PR disaster. | RJ boss would love for UBS to sell wealth management group | How clients rate UBS
ETF at the heart of UBS $2B debacle: Sources
Sources say UBS' $2B trading loss may have been caused by an employee's failure to hedge the currency risks of an exchange-traded fund. If so, expect heightened regulatory scrutiny of ETFs.
