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UBS at risk after $5 billion surprise penalty

February 20, 2019

UBS Group AG's decision to fight a tax case in France, rather than settle it, led to a nasty surprise. Switzerland's biggest bank was ordered to pay more than $5 billion Wednesday over a tax-evasion case in France — matching what was sought...

UBS ordered to pay more than $5.1 billion in French tax case

February 20, 2019

UBS Group was ordered to pay more than 4.5 billion euros ($5.1 billion) by a Paris court that found the bank guilty of having helped wealthy French clients stash funds in undeclared Swiss accounts. Shares of UBS fell as much as 3.1%. The Paris...

UBS eschews $6 billion settlement in French tax investigation

February 19, 2019

It's UBS Group AG's $6 billion gamble, but the risk extends far. The Swiss lender eschewed a settlement in a French tax investigation after failing to agree on an amount, exposing it to in-court demands from the state and prosecutors. Paris...

Team managing $314 million leaves UBS for Ameriprise

February 12, 2019

The four-adviser Vilfordi team, which managed $314 million at UBS in Dallas, Texas, has joined the employee channel of Ameriprise Financial. (More: Five-member FiNet team managing $360 million moves to LPL) The team is headed by George Vilfordi...

Three-adviser team managing $730 million leaves UBS for Stifel

February 14, 2019

A three-adviser team managing $730 million at UBS in Cincinnati has moved to Stifel Nicolaus & Company. The three representatives —Tom Lieser, Leigh Anne Gage, and Tom Awadalla — will open a new downtown office for the firm. The office will...

UBS dinged by Virginia after broker recommended gold and precious metals securities

February 8, 2019

UBS Financial Services Inc. last month agreed to pay Virginia's State Corporation Commission $319,000 to settle charges that a former broker in a branch in Roanoke made unsuitable recommendations of certain gold and precious metals securities...

Why UBS is focusing on ultra high net worth clients

March 13, 2014

John Mathews, head of private wealth management at UBS, shares how the firm's private wealth unit is contributing to its overall performance and why luring ultra high net worth clients is so important now.

Tapping into the passions of the ultra high net worth

March 13, 2014

Advisers who can identify the passions of ultra high net worth clients also tap into what's really important to those individuals. John Mathews, head of private wealth management at UBS, talks about how adivsers can anticipate those needs.

UBS saw decline in new client money in fourth quarter

January 22, 2019

As the market churned in the fourth quarter, UBS Group said on Tuesday that the amount of net new money in its wealth management business in the Americas declined by $3.6 billion in the final quarter of last year when compared with the same...

How UBS aims to get an edge over independent advisers

March 13, 2014

Serving ultra high net worth clients should be more holistic than just providing investment advice, according to John Mathews, head of private wealth management at UBS. Here he talks about how the firm's advisers can leverage the entire institution.

INTV: Wells, UBS talking wealth mgmt. tieup?

March 16, 2011

InvestmentNews' Andrew Osterland details what he's hearing from industry sources about a possible purchase of USB Wealth Management Americas by Wells Fargo Advisors.

Husband of UBS banker sued by SEC for insider trading

December 18, 2018

His fiancée didn't know he was eavesdropping. He swiftly made more than $250,000. They got married. Then the Securities and Exchange Commission showed up. Now the husband of a banker at UBS Group has settled allegations that he traded on inside...

UBS Wealth embraces exotic strategies to battle market headwinds

December 19, 2018

The world's largest private bank is doubling down on exotic strategies to profit from the intensifying meltdown in the synchronized bull market. As Wall Street frets another annus horribilis, UBS Global Wealth is embracing a playbook beloved...

UBS sues Ohio National over lost variable annuity commissions

December 17, 2018

UBS has sued The Ohio National Life Insurance Co. and its subsidiaries for the insurer's new policy of ending adviser trail commissions on some variable annuity products. The wirehouse joins several other broker-dealers fighting the cessation...

UBS hit with $15 million in fines, penalties for AML problems

December 17, 2018

Securities and banking regulators are continuing to focus on anti-money laundering procedures and policies at firms of all stripes, announcing on Monday that UBS Financial Services Inc., home to more than 6,900 financial advisers, has been fined...

UBS looks for asset management deals, joint ventures

October 30, 2018

UBS Group is weighing acquisitions and joint ventures for its asset management business to help it compete with larger rivals, people with knowledge of the matter said. Targets may include U.K. and U.S. asset managers focused on retail clients...

UBS buckles under uproar from brokers over non-solicit agreements

December 5, 2018

After causing an uproar earlier this year with its advisers and brokers, management at UBS Financial Services Inc. should be commended for coming to its senses, paying attention to its field force and reversing an unpopular policy that potentially...

UBS Global Wealth Management will give ESG scores to funds

December 3, 2018

UBS Global Wealth Management will score the environmental, social and governance strategies of investment funds available to its advisers and clients starting next year. The scores will be placed on all long-only equity and bond mutual funds...

UBS CEO promises to boost wealth management profits

October 25, 2018

As UBS Group reported strong third-quarter results, CEO Sergio Ermotti pledged to drive wealth management profit higher and cut costs as he seeks to revive the bank's shares. The bank's net income for the third-quarter period beat the highest...

UBS reaches last leg of two largest court battles

November 9, 2018

UBS Group AG's two biggest legal cases in years are entering the final stretch in a test of CEO Sergio Ermotti's strategy of taking on French and U.S. authorities. The Swiss bank was hit with a long-expected U.S. fraud lawsuit that accused it...

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