Focus: UBS goes on hiring spree for wealth managers catering to rich Americans

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Focus: UBS goes on hiring spree for wealth managers catering to rich Americans
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UBS has gone on a U.S. recruiting drive for wealth managers catering to rich Americans even as it considers culling 30% of its combined global workforce after its takeover of Credit Suisse.

UBS recruited 50 financial advisers, including from Bank of America's Merrill Lynch unit, JPMorgan Chase's recently acquired First Republic Bank, Citigroup and Wells Fargo, on the first half of the year. Of those, 30 came after

Underscoring the importance of the business, Khan met with high-net-worth clients in southern California on June 12, the day UBS closed its historic deal with Credit Suisse. He also led an internal event with its best-performing financial advisers. "We’ve been focused on attracting and retaining advisers who are skilled in serving this population,” he said.

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