UBS Sees Leaders Exit, Expects Profit
UBS said in early October that the co-heads of its global-equities unit resigned in response to the unauthorized trading that caused a $2.3 billion loss at the bank in mid-September. A former Bank of America-Merrill Lynch executive is now the sole leader of the unit. These shifts come on the...
Morgan Keegan Bleeds as Sale Drags On, Experts Say
As the clock keeps ticking on a possible sale, advisors at Memphis, Tenn.-based Morgan Keegan are likely to continue to leave or at least consider it, recruiters tell AdvisorOne, which drains the value of the broker-dealer to potential acquirers.
Sale of UBS-Americas Would Be ‘Nuclear Option,’ Says Expert
UBS may need to consider spinning off its U.S. operations as a worst-case scenario, according to recruiters and others.