UBS Group AG is a Swiss multinational investment bank and financial services company founded and based in Switzerland. Co-headquartered in the cities of Zürich and Basel, it maintains a presence in all major financial centers as the largest Swiss banking institution in the world.
In reporting first quarter earnings last week, Merrill Lynch further obscured its core broker headcount while Morgan Stanley did away with reporting the number altogether.
The team’s move underscores the wirehouses’ growing appetite for large private bank teams.
Four-person group had been overseeing $400 million in client assets and underscores Morgan Stanley’s revived recruiting focus.
Merrill advisor who joined UBS in Garden City, Long Island, was generating $7.1 million in annual revenue, according to a person familiar with the move.
UBS Group AG’s business in the Americas is weighing some workplace changes following feedback from employees on issues such as diversity, job flexibility and community engagement.
Eight-person team had been overseeing $1.3 billion in client assets, according to a source familiar with the move.
Former R.J. Reynolds CEO is the latest wealthy investor to lose claim over options strategy managed by a UBS team that went awry and his broker wins claim expungement, but another panel orders UBS to pay $1 million to two clients of a Nebraska broker.
A four-person team at Merrill Lynch left to partner up with an existing UBS team in Kenwood, Ohio.
Brothers Grant and Scott Fortney, with team partner Michael B. Nichley, were managing a $1.1 billion book at Morgan Stanley’s private wealth unit.