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Articles tagged "UBS"


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David Fortunato: We will be cash flow positive and EBITDA profitable in the next few months.

UBS backs out of Wealthfront deal, coughs up $69 million and will 'build' not buy as digital top gun Naureen Hassan's arrival as CEO of UBS Americas hangs nigh

The Swiss-owned wirehouse was going to pay $1.4 billion before the market plunged, and UBS brought on a new digital-savvy CEO to lead its online efforts

September 3, 2022 at 1:34 AM

Mark McCombe: We think that it’s time to a little bit say, ‘No.’

Texas just pronounced BlackRock guilty of pandering to sustainable investing interests -- and BlackRock is having none of it

Despite the ESG reprieve BlackRock's CEO granted the fossil fuel industry in May, it's answer to the Texas power play is 'no,' it tells Bloomberg

August 27, 2022 at 12:03 AM

Naureen Hassan is back on the 'digital' Wall Street brokerage track after a year as a bank executive.

UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture

Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.

July 16, 2022 at 1:35 AM

David Fortunato: It was clear from the start that we shared the same values and culture.

Wealthfront gets new CEO who promptly sells to UBS, making Betterment CEO's day as last robo-advisor standing; but an insider claims the '$1.4-billion cash deal' may be less 'eye-popping' than it appears

The Palo Alto, Calif., robo-startup's original mission was to disrupt wirehouses, technically and culturally, but now it's one with a wirehouse, its best remaining option

January 31, 2022 at 9:26 PM

Danny Sarch: Has anyone pointed out how ironic it is that LPL was owned by private equity?

LPL Financial markets itself as a savior to reps at 14 IBD firms under the 'precarious' spell of private equity investors, despite its own private equity past

Recruiters pan rhetoric of the Fort Mill, S.C.-based independent broker-dealer for willfully talking past the heavy hand of private equity in their pre-IPO years -- and their own retention and service challenges

October 1, 2018 at 6:20 AM

Mike Sha: To say it's a busy time would be an understatement.

SigFig tightens its lock-down on UBS's digital fate by absorbing its in-house robo unit and 80 employees, but it's weathering storms on other fronts

The Swiss bank's symbiosis with the San Fran start-up winds ever tighter, but '1,000 banks,1,000 separate versions' hardly lends itself to a plug and play symphony

September 18, 2018 at 5:09 PM

Mike Sha: It's way better for our clients if technology investments are amortized across  [multiple] large partners as opposed to one-off custom development for any one-off particular partner.

Mike Sha's robo-advisor faced tough choices until two wirehouses offered unique partnerships -- and maybe a new business model to boot

Sure, the SigFig's founder plays by some of UBS's rules in taking its financial backing and giant systems account but beyond that, the freedom to cavort with Wall Street rivals is pretty unlimited.

June 14, 2018 at 3:46 PM

Tom Naratil plays catch-up on recruitment withdrawal after setting the early pace.

How UBS exited the Broker Protocol and why the aftereffects may surpass those of Morgan Stanley's earlier departure

Using Thanksgiving and the alleged complicity of his firm's attorneys as a smoke screen, CEO Tom Naratil made good on warning to slam the door on his sales force

November 28, 2017 at 2:37 AM

Sharron Ash: What next? Are they going to call it attorney-client reporting?

RIA lawyers cry foul against Bressler, Amery & Ross -- keeper of the Protocol flame -- after Morgan Stanley exit throws sunlight on attorney behavior

A livid Sharron Ash says she was stonewalled by Bressler, Amery when she called for info after spotting a buried notice that Morgan Stanley was bowing out of the Protocol

November 2, 2017 at 5:26 AM

John Straus: Other broker-dealers are not experienced in dealing with a wealthy complex client.

Raymond James looks to extend its RIA roll-up success with FallLine deal that gets John Straus off the startup schneid

The St. Petersburg, Fla.-based broker-dealer connected with Steward and this time it gets play at making gains in two weak areas -- serving RIAs and ultra high net worth investors

July 13, 2017 at 9:04 PM

Jamie Price: The opportunity to join a firm of this caliber was one that I could not pass up.

Valerie Brown finds her CEO in UBS ex-prez Jamie Price off the obvious radar screen

In search effort the Advisor Group executive chair looked past kiss of death on the Price résumé and saw the digression off the corporate path as a positive

November 16, 2016 at 12:17 AM

Christopher Norton: By working with the advisor and not the institution directly, the clients may perceive that they are protected from the shenanigans.

FiNet welcomes six wirehouse defectors at the apex of a withering Wells Fargo bank scandal that 'has legs'

Wells Fargo Advisors and FiNet ADVs warn of some cross-selling as RIAs eye Wells Fargo to see if the only wirehouse attempt to support independents will succeed, fail or end in confusion

September 29, 2016 at 7:15 PM

Jon Stein: I really don't know about the ... presti-i-i-ige ... of a wirehouse.

The inverted reverence dynamic at The In|Vest event and why Bill Crager is so over it

Tomorrow is here: Wirehouse execs and IBM types play groupies as robo-founders leaned back in their chairs

June 23, 2016 at 6:19 PM

Bill Butterfield: I'm sure other wirehouses won't be far behind.

Why there's more to the UBS-SigFig deal than meets Sergio Ermotti's gimlet eye

UBS's New York and Switzerland C-suiters tromped through the San Francisco robo's digs for months before striking this bellwether deal

May 17, 2016 at 6:52 PM

Bill Gross exudes personal accountability -- even amid a few eccentricities.

The very good news that RIAs can take away from the whole Bill Gross imbroglio

Without a say-what-he-wants-when-he-wants 70-year-old to hold to account, PIMCO is reduced to a robo status that makes many decisionmakers nervous

October 8, 2014 at 8:01 PM

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