UBS has cut as much as 20% of the workforce in some European regions and is reducing management layers in Asia to bring clients closer to top decision-makers, people with knowledge of the matter said, asking not to be identified as the matter is private.
UBS Group AG plans to open a new office in Miami to work with Latin American wealth managers, part of a broader effort by the Swiss bank to expand its business in the U.S.
New advisor who worked with the upper stratum of Schwab clients is teaming with another broker in UBS’s Indianapolis branch.
UBS broker with $700,000 in production said he craved more attention to serve his 150 household accounts.
Wirehouse is giving brokers receiving team-production payouts an extra six months to meet higher qualification levels.
The halving of sales divisions at the wirehouse is also affecting managers across the U.S., according to sources.
UBS Group AG plans to restructure the unit that serves the bank’s top billionaire clients in the first sweeping changes under its new co-head of wealth management, Iqbal Khan.
Panel orders UBS to pay $11 million in compensatory and punitive damages to a compliance officer fired for allegedly failing to supervise uncovered options in broker accounts.
Bill Carroll, Brad Smithy and Jennifer Povlitz emerge as divisional survivors as UBS seeks to align its private wealth organization into its “core field organization.”