We discussed the growth in Asia as key driver to the stock in a past article: UBS Wealth Management is Key Driver to Stock Price.
Going forward, we expect new stricter regulations, more due diligence and caution by investors and increasing competition to weigh down on the AUM for UBS wealth management.
FORBES: UBS Rides To $20 By Growing Wealth Management Biz In Asia
Though the wealth management sector proved to be more robust than the investment banking sector during the financial crisis, there can be a downside to our forecasts for the AUM for UBS Wealth Management.
FORBES: UBS Rides To $20 By Growing Wealth Management Biz In Asia
The other largest national full-service firms, Morgan Stanley Smith Barney and UBS Wealth Management Americas, "need to take this topic very seriously and have a strategy ready in how to connect with a younger generation, " Mr. Pirker says.
WSJ: How Financial Advisers Should Ask Clients for Referrals
Retail brokerage units Bank Of America Merrill Lynch, Morgan Stanley Wealth Management, Wells Fargo Advisors and UBS Wealth Management have been losing client assets to regional and independent advisory firms across the country and that trend is going to continue over the next three years.
"It's not going to be a matter of years but over the next one or two decades that the standard of living becomes more uniform across the European Union, " and wages in Eastern Europe catch up with the West, says Brian O'Reilly, director and global equities strategy at UBS wealth management.
But McCann, who joined UBS as head of wealth management in 2009 after his old firm Merrill Lynch was bought by BofA, has been making significant moves to make his smaller army more productive than its competitors.
FORBES: UBS Brokerage Biz Gives Swiss Something To Smile About In Q1
But these days UBS U.S. wealth management business is the hot spot on Wall Street.
FORBES: UBS Brokerage Biz Gives Swiss Something To Smile About In Q1
The wealth management division of UBS competes with of other banks like Credit Suisse and Morgan Stanley.
The wealth management division for UBS is divided into three main regions, based on assets managed for clients in those regions.
The above bar chart compares the change in wealth management assets for UBS, Credit Suisse and Morgan Stanley between 2006 and 3Q 2010.
Credit Suisse has had its share of mishaps during the crisis but it was quick to scale down its balance-sheet, has plotted a credible strategy for its investment bank and pulled well ahead of UBS, its main rival in wealth management.
McCann joined UBS in 2009 to lead its then struggling U.S. wealth management unit which houses its retail brokerage force.
The issues triggered a new strategy at UBS which aims to scale down its investment banking business and instead focuses on wealth management business and its Swiss bank.
FORBES: UBS Brokerage Biz Gives Swiss Something To Smile About In Q1
He first joined UBS as head of market risk control in 1998, and became the head of wealth management in 2002.
UBS, and Credit Suisse too, because of fears that subprime woes will somehow contaminate the banks' wealth-management arms.
One aim of the reorganisation at UBS is to stop its investment-banking arm from funding itself with inexpensive capital thrown off by the wealth-management arm.
The appointment of MarcelRohnerMarcel Rohner as UBS chief executive to replace the ousted PeterWuffliPeter Wuffli signals a change of focus at the Swiss bank, toward wealth management and away from its riskier investment banking division.
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