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.
What’s Behind the U.S. Suing Big Banks Over Mortgage-Backed Securities?
More bank stock declines and less lending could be in store as financial institutions face another massive round of lawsuits. The Federal Housing Finance Agency sued 17 banks on Sept. 2, alleging that the financial institutions committed securities violations in the lead-up to the recent financial crisis.
Wirehouse Q2 Earnings Analysis: UBS Outpacing Rivals
The Americas operations of UBS are ahead of all the wirehouses in new assets and net new money per advisor.
UBS Grabs 4 Merrill Advisors in California, Florida
The FAs have total yearly production of $2.1 million and assets of $800 million
UBS Hosts Client Forum With Clinton, Bush on Economy
The wealth-management group also says its advisors and clients will be supporting small businesses in New York, as part of a pilot project.
UBS' McCann and His Team: Lots of Merrill Lynch Ex's
Former Merrill Lynch execs hope to improve results at UBS Americas, which includes about 7,300 advisors.
Wirehouse Firms Report Third Quarter '09 Results
Over the past 12 months, the broker-dealer field has been in a tremendous state of transition. Now after a string of significant mergers and...
UBS Down 680 FAs in Q3
After selling some 380 advisors to Stifel Nicolaus, UBS Americas now has 7,286 advisors in its ranks as of September 30, 2009.