Arbitration panel awards UBS full promissory note claims and legal fees from a broker who left after just over one year for Oppenheimer.
New York firm eroded more brokers during the fourth quarter but advisory fee revenue (and executive compensation) soared.
Marty Padilla packs up his million-dollar team for new venture.
David Aplin, head of asset management product selection and overseer of brokers running discretionary accounts, is replaced after 22 years by a UBS manager.
Arbitrators deny attempt to collect mega-damages from fixed-income star Greg Fisher and to pay his hefty legal fees.
Law firm run by former SEC chairman scrutinized internal audits after previously criticizing Opco’s corporate governance, management and compliance programs.
Veteran Rick Wisely steps aside as producing manager Kevin Friedman takes over.
Company’s brokerage force falls even as it incentivizes a top executive to recruit $300,000-plus producers.
Firm, which reduced its brokerage force by 5% last year, expects to save $2.6 million of annual interest by redeeming 20% of its 8.75% senior secured notes.