UBS Pushes Out Risk Chief; McCann to Head Americas Unit
Bob McCann takes over as CEO for the Americas business from Lofts, who re-assumes his role as chief risk officer for the global bank
UBS Launches Pilot Program for iPads
UBS FA Mobile should be introduced to its 6,900 advisors in the Americas by March 2012.
Most Earnings Top Estimates on Mixed Advisor-Headcount News
Bank of America reported net income of $6.2 billion, or $0.56 per share, for the third quarter vs. a net loss of $7.3 billion, or $0.77 per share, last year — topping analysts’ estimates by a wide margin. Revenue, net of interest expense (and calculated on a fully taxable-equivalent basis)...
UBS to Trim Investment Bank, Emphasize Wealth Management
UBS revealed plans Thursday to strengthen its wealth-management units while scaling down its investment bank and introducing new performance targets companywide.
5 Best & Worst Broker-Dealers: Q3 Earnings
Brokerage firms in the third quarter boosted earnings growth as high as nearly 2,200% and reported declines as low as 120% — AdvisorOne selected a lucky 10 to spotlight.
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...
UBS Beats Estimates; Net New Money Expands in Americas: Q3 Earnings
The U.S.-based wealth management unit had about 6,900 advisors and inflows of $4.5 billion in the most-recent quarter.
UBS Expects Modest Profit for Q3, New Client Inflows
UBS said Tuesday that, despite a loss of $2.3 billion related to unauthorized trading and $433 million restructuring charge tied to cost cutting, it should report a modest net profit for the third quarter of 2011.
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.
Krawcheck Out in BofA Reorg
Bank of America said in early September that wealth-management head Sallie Krawcheck was leaving the company as part of a major reorganization of the bank and its operations.