UBS plans to add around 500 new financial advisers per year to its current US wealth management brokerage staff of 7,400, according to the b...

UBS plans to add around 500 new financial advisers per year to its current US wealth management brokerage staff of 7,400, according to the bank’s US boss. Mark Sutton, chairman and chief executive of UBS Wealth Management USA, told investors in the US that after cutting the bank’s ranks from 8,800 to 7,400 in recent years and eliminating weaker performers, new hiring has begun. The bank is looking to recruit staff with at least $100 million in assets as well as pursue new hires that it will train. The remarks follow the bank’s chief executive Peter Wuffli saying that further acquisitions were planned in Europe as part of UBS’ aggressive global wealth management expansion.