UBS

Combining the two Swiss megabanks means more assets and a bigger brand for UBS. But it could be a heavy lift, slowing U.S. advisor recruitment.

UBS Group Chairman Colm Kelleher said the bank will focus on the very richest US clients, backtracking from a plan to serve a broader segment of affluent customers after it abandoned a deal to buy the robo advisor Wealthfront.

UBS Group's Frankfurt and Munich offices are being searched by prosecutors as part of a money laundering investigation linked to the sanctioned Russian oligarch Alisher Usmanov, people familiar with the probe said. 

Suni Harford ran into several obstacles after she set out to boost the number of women serving on the boards that oversee funds managed by UBS Asset Management.

The Swiss bank's municipal-underwriting subsidiary lost out on a bond deal after the state comptroller included the parent company on a list of firms he deems "boycott" the fossil fuels industry.

January was a quiet month for traditional bank mergers and acquisitions, but some big-name firms still struck big deals. Here's a look back at the month's most noteworthy deals.

UBS Group AG plans to invest $200 million of its own money in fintech companies over the medium term in a push to further digitize its services and find new ways to engage with clients.

Innovation is key in today's dynamic market. Suni Harford, president, asset management at UBS walks us through two significant innovations she drove in the asset management industry this year — including a ground-breaking approach to climate change and sustainable investing.

Digital financial services proponent Mobey Forum has added the Payments Expert Group, joining other domains pertinent to its mission, such as open banking, artificial intelligence, data security and digital identity.

Sergio Ermotti joined JPMorgan Chase's Jamie Dimon in expressing concern about the long-term consequences of remote work.

Axel Weber has discussed the idea with Switzerland's finance minister and an agreement could happen by early next year, according to the Swiss finance blog Inside Paradeplatz.

The company and its global peers have seen their profitability hurt by half a decade of negative interest rates, which effectively make banks pay for holding clients’ cash.

The disease could lead to less lending business and more loan defaults; Sergio Ermotti will join the insurance company as chairman in 2021.

$13 billion deal will get Morgan Stanley "ready for prime time"; Ralph Hamers will replace Sergio Ermotti later this year.

Bank will have more business lines, all reporting to the CEO; a research paper says the accounting rule could result in eased capital rules.

Moynihan says the bank’s consumer market share could be doubled; retail terminals would connect customer’s hand print with their card information.

Marcus and the Apple credit card accounted for 3% of the bank’s profit in the first three quarters of 2019, despite a multibillion-dollar investment in consumer operations; the senator’s plan would make it easier to expunge debt.

The former House Financial Services Committee chairman follows other notable former officials who went to the think tank after government careers.

Harford was recently promoted to president of UBS Asset Management after a two-year stint as head of investments.

About 15% of the bank’s partners are likely to leave this year to make room for new ones; the bank said it is looking into why it charges some customers even after their accounts are closed.