UBS will be best wire on street if Mccann pulls this off

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Lew Ashby's picture
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Joined: 2009-01-13

Borei, you're a hater, and you BORE me!

borei's picture
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Joined: 2009-07-24

I hate lies, yes. And the fakirs who give our industry a bad name, yes. If the truth bores you, well YAWN, so what?

Lew Ashby's picture
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Joined: 2009-01-13

Who's been lying to you? Has McCann lied to you or me? If so, prove it. Did Martin Hoekstra and his regime lie to me? If they did, I don't remember when it was. Don't confused inability to execute and lead with lying. And don't project the mistakes a previous regime on the new one. The new regime was very successful at ML's wealth management division, and they were well-liked and respected by the herd as a result. Even if they did make mistakes back there (who doesn't), they deserve the benefit of the doubt at UBS. If they mess things up here, then they will pay price. You judge, and you haven't even met these people. Sounds like the definition for prejuduce to me. What makes me sick are people like you who hide behind some avatar name spewing all kinds of misinformation and hate, but face to face with these folks, you would curl up in the fetal position and suck your thumb. Because you have no facts to back up your claims. Bring new facts to this board or don't post at all. Have a nice day!

Lew

borei's picture
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Joined: 2009-07-24

Lie #1, the alleged payout grid. They hide the real numbers, they rig the system, you drink the koolaid. Lie #2, they knew nothing about the LEH problems before the failure. Lie #3, they were honest - NOT - they engaged in criminal conspiracies to defraud the US government. Many more but those three are clear and irrefutable. As for that wonderous magical successful ML team - BWAHAHAHAhahahahaaaa......ML is GONE. Destroyed by their ineptitude. And you embrace them. How sad. BTW, can you read financials? If so read the latest from UBS, they still are bleeding assets. 

borei's picture
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Joined: 2009-07-24

"The question remains the same.  "Where are the customer's yachts?" Sunbelt nails it!

ABOM's picture
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Joined: 2008-11-01

borei wrote:Lie #1, the alleged payout grid. They hide the real numbers, they rig the system, you drink the koolaid. Lie #2, they knew nothing about the LEH problems before the failure. Lie #3, they were honest - NOT - they engaged in criminal conspiracies to defraud the US government. Many more but those three are clear and irrefutable. As for that wonderous magical successful ML team - BWAHAHAHAhahahahaaaa......ML is GONE. Destroyed by their ineptitude. And you embrace them. How sad. BTW, can you read financials? If so read the latest from UBS, they still are bleeding assets.  #1: the grid is a lie? guess your talking about annuities here, stuff like managed money is pretty clear#2: LEH, they knew? if they did they where the only ones - you lose your credibility here#3 The Swiss division had some bad employees, they no longer work at the firm and UBS paid a hefty fine. UBS is cooperating with US justice dept but is stuck between a rock and a hard place as this is an issue involving soverign nations (Tax evasion is not a crime in switzerland). Privacy is a big reason why people bring money to UBS in Switzerland start giving names over to governments and people will take their money out and go to the cayman Islands or somewhere else.  By the way guess what the largest tax haven in the world is? Swiss? nope good ole USA is!! can you imagine if Chavez or Kim Juong-IL demanded the names of citizens who had accounts with US banks!I just got back from the natl BOM mtg, was very good this place is changing rapidly in a very good way. The new executive team is cutting red tape and BS with a chainsaw.  Tech & product platforms are undergoing rapid changes. Mccanns team is so positive and excited on what they are doing that it will be infectious to the rest of the company. I liked Hoekstra but I think he was stuck in a situation that was not good for his style. the new crew are no BS they will have us lean and mean and be the place to work for high performance individuals.Mccann said it best "I want to to work with people that want to win but dont have to win"Borei sorry you "Resigned" before you got to see all the positive change at UBS, best of luck to you.  

borei's picture
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Joined: 2009-07-24

"#1: the grid is a lie? guess your talking about annuities here, stuff like managed money is pretty clear"LOL, so you acknowledge that some of the grid is a lie. It is, they lie about the comp they receive and therefore they grossly underpay the advisors."#2: LEH, they knew?"Yep. If you bothered to actually read about the sleaze that run UBS, you'd know they knew. See http://seekingalpha.com/article/194274-how-ubs-profited-from-lehman-s-accounting-duplicity"#3 The Swiss division had some bad employees, " ...Sorry, the guy wearing orange worked in the United States and was a US licensed broker. That UBS fired the criminal slime after they got caught isn't much to hang your hat on, but clearly you need something.As for that infectious enthusiasm, how does that cure a warped and wounded balance sheet? How does that stem massive outflows of client assets? What is the "Unique Value Proposition" that differentiates the UBS offering from any other corporate mastered sales machine?BTW - remember, you work for an acknowledged criminal enterprise that lies to you and KNEW that Lehman was in trouble all the while they told you (and me) that Lehman Structured Notes were "safe". If you can be proud of that, you deserve what is coming. 

Greenbacks2's picture
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Joined: 2010-03-03

How long do you think it will take this great leadership team that helped destroy ML. How long before they can put a final death blow to UBS?    Six months? 1 year?

TheNextLevel's picture
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Joined: 2010-04-27

I give it 20 months until sold

Lew Ashby's picture
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Joined: 2009-01-13

borei wrote:"#1: the grid is a lie? guess your talking about annuities here, stuff like managed money is pretty clear"LOL, so you acknowledge that some of the grid is a lie. It is, they lie about the comp they receive and therefore they grossly underpay the advisors."#2: LEH, they knew?"Yep. If you bothered to actually read about the sleaze that run UBS, you'd know they knew. See http://seekingalpha.com/article/194274-how-ubs-profited-from-lehman-s-accounting-duplicity"#3 The Swiss division had some bad employees, " ...Sorry, the guy wearing orange worked in the United States and was a US licensed broker. That UBS fired the criminal slime after they got caught isn't much to hang your hat on, but clearly you need something.As for that infectious enthusiasm, how does that cure a warped and wounded balance sheet? How does that stem massive outflows of client assets? What is the "Unique Value Proposition" that differentiates the UBS offering from any other corporate mastered sales machine?BTW - remember, you work for an acknowledged criminal enterprise that lies to you and KNEW that Lehman was in trouble all the while they told you (and me) that Lehman Structured Notes were "safe". If you can be proud of that, you deserve what is coming. Borei, you're jaded, and nothing positive we say will sway you.  Regarding grids, they're posted every year.  We know exactly what we're going to get paid for our products and services, good or bad.  Every major firm has holdbacks with commissions on annuities.  If that was a surprise for you, friend, then you are more naive than I thought.Regarding Lehman notes.  That was bad for everyone.  Nobody can deny that.  But to take one side of the story as gospel, (the side of the plaintiff's attorney) is again a bit naive.Lastly, the dumb f#ck broker who was on 60 minutes telling his story, who is now is jail for lying himself, was indeed an American, but he was employed outside of UBS Wealth Management Americas.  Birkinfeld was not a financial advisor working for the old Paine Webber.  He was a Swiss banker.  And if you're surprised by anything he revealed to America in that interview, you are again, you guessed it, naive.And for those of you who think McCann took down ML Wealth Management, you too are misinformed.  ML's wealth management had nothing to do with their downfall.  It was the investment bank and  their CDO's, SIV's, not enough CDS's, and too many DMF's working there that caused their downfall.  McCann's division was the envy of the industry, and it will be here at UBS soon enough.And if we're sold in a year or two, who the hell cares?  The name of my firm changes my business not one iota.Lew 

borei's picture
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Joined: 2009-07-24

"  But to take one side of the story as gospel, (the side of the plaintiff's attorney) is again a bit naive. " Is english a second language? That report was the report of the bankruptcy examiner, not a party in interest. I guess basic fiduciary issues escape those like you who can give advice without being able to read a financial statement. As for the "holdbacks", where are those ever disclosed to the advisor?  Lies from criminal conspirators, lies from fraud ridden hucksters impress me - NOT. "The name of my firm changes my business not one iota." Really? Try putting "Madoff" on your card. If the reputation and integrity of your firm do not matter, well, what have you left?

Lew Ashby's picture
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Joined: 2009-01-13

Your arguments are weak. The evidence is that you've resorted to critiquing semantics. BTW, at which firm do you currently reside? I'm sure they've been mistake free since they opened their doors, or you wouldn't be on your soapbox preaching. And just admit it, you're a little jealous that you had to suffer at the old UBS and won't be able to enjoy the new and improved UBS. I understand. I've personally seen how bad decisions by upper management have affected friends of mine. Things are looking up, though, my friend. UBS is on the rise. If you don't think it's the place to be now, you will in the next year.

Lew

borei's picture
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Joined: 2009-07-24

" And just admit it, you're a little jealous that you had to suffer at the old UBS and won't be able to enjoy the new and improved UBS. " ROTFLMAO!!!!! UBS lied, they KNEW about Lehman, they KNEW about the criminal acts being committed, they broke the law and they raped both your clients and you and you lick their hands and ask for more. BWAHAHAHAhahahaaaa.........

ABOM's picture
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Joined: 2008-11-01

Good stuff Lew, Its amazing how borei goes out of his way to trash UBS, just look at the NEW thread he started saying the same stuff in here!Guys like a Erin Andrews stalker.  Your production was low, you where fired. Let it go man. 

borei's picture
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Joined: 2009-07-24

Yawn. Facts matter. UBS lied. Again and again. Bootlickers and the greedy remain. The rest of us  are gone. 

Jennifer Nettles's picture
Joined: 2010-03-01

ABOM wrote:Good stuff Lew, Its amazing how borei goes out of his way to trash UBS, just look at the NEW thread he started saying the same stuff in here!Guys like a Erin Andrews stalker.  Your production was low, you where fired. Let it go man.  bingo.  

borei's picture
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Joined: 2009-07-24

Yawn. Facts matter. UBS lied. Again and again. Bootlickers and the greedy remain. The rest of us  are gone. 

BeenThere's picture
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Joined: 2009-07-31

Fascinating discussion.    Sincere, straight-talking FA (Borei) getting trashed by two of UBS's marketing staff (Lew and Jen), who are posing as real FA's.     Remember folks, these company shills (Jen and Lew) get paid to  say good things about UBS.   They are like the rest of the overhead (non-producers) at UBS.    Lying is part of their culture.   Every manager at the firm has been part of that culture.   (Although I do think that Marten was honest, but he would have had to fire everyone between himself and the FA to fix the firm).      It's interesting that Bob is firing the Weehawken bureaucrats as fast as he can.   Should we believe that Bob's team will be any different?  Nah.   It's the nature of the beast (bank-owned brokerage model).      "Growth Plus" is just another way to feed the brown-nosing FA's that have learned to work the system (and don't give a %$#* about their clients).      I have to decide if I'm going to take that bait  or move to an RIA/Indy.        

Jennifer Nettles's picture
Joined: 2010-03-01

 "these company shills (Jen and Lew) get paid to  say good things about UBS."oh no.  busted.      cant fool you "I have to decide if I'm going to take that bait  or move to an RIA/Indy. "        dude.   if you hate it so much and think Im full of crap-leave.    Im betting from your lame post you probably dont have the stones to bolt. 

Jennifer Nettles's picture
Joined: 2010-03-01

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