March 23, 2019
Top Stories of the Week: UBS Touts 3% CD for Clients, Ameriprise Clips CEO Pay, And More
- UBS Woos Cash with Sky-high 3% One-Year CD
Teaser rate in short-term offer was promoted in mass mailings to customers, irritating some brokers who weren’t given a chance to opt their clients out of the offer.
- Ameriprise Clips CEO Cracchiolo’s Pay by 23% in Say-on-Pay ReactionFirm imposed new limits on James Cracchiolo’s incentive pay after a majority of Ameriprise shareholders voted their discontent over executive pay.
- Steward Partners Recapitalizes, Gets $50 Million from Private Equity Firm
Raymond James-affiliated firm says it will use investment from Cynosure Partners to expand and allow some stakeholders to monetize their positions.
- UBS Eliminates Practice Management Consulting Unit in U.S.
In an apparent cost-cutting move, the Swiss banking giant has eliminated a longstanding group that coached financial advisors on growing assets and teaming.
- Finra Projects Widening Budget Gap
Securities industry-funded regulator expects operating expenses to outpace 2019 revenue by more than $75 million, but will not increase member fees.