UBS turnaround..not so fast
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[quote=exUBS]He needs to cut middle management, streamline the home office, [/quote]
This has already been done to the extreme. They have cut so much that they are now actually rehiring and hiring. They cut to deep and realized it.
agree with that UBStech – the back office has been gutted. The help desk hold times are insane and no one returns calls from the back office.
UBStech & ABOM - I also agree with you. I've had a few issues, and had difficulty getting someone to helpagree with that UBStech – the back office has been gutted. The help desk hold times are insane and no one returns calls from the back office.
[quote=ABOM]agree with that UBStech – the back office has been gutted. The help desk hold times are insane and no one returns calls from the back office.
UBStech & ABOM - I also agree with you. I’ve had a few issues, and had difficulty getting someone to help[/quote]
Open a STAR case. Guffaw.
[quote=borei] [quote=betsyross] [quote=ABOM]agree with that UBStech – the back office has been gutted. The help desk hold times are insane and no one returns calls from the back office. [/quote]
UBStech & ABOM - I also agree with you. I've had a few issues, and had difficulty getting someone to help[/quote]
Open a STAR case. Guffaw.[/quote] Borei--been there, done that. More often than not, they don't seem to understand the problem. Which then requires actually talking to a human being. I had an tax withholding issue on dividends. The issue involved withholding on a canadian stock for investors domiciled in the US vs. another country. I even did all the research for them--called the company , spoke to the director of investor relations, and obtained the documentation. The lady who answered the starcase was clueless. They've layed off too many of their experienced people.
mccann has his first call with branch managers tomorrow morning - ill keep you posted. On another note branch managers are dropping like flies. I know of 2 10mm+ branches where the managers have resigned in last few weeks. not fired - just quit.
now we will need to go bring in new managers and give them"guarantees" vs. just paying a fair salary to begin with…
Those are now producing manager roles if they are in the $10MM range. I would guess they will recruit producing branch managers from other firms and pay them as FAs.mccann has his first call with branch managers tomorrow morning - ill keep you posted. On another note branch managers are dropping like flies. I know of 2 10mm+ branches where the managers have resigned in last few weeks. not fired - just quit.
now we will need to go bring in new managers and give them"guarantees" vs. just paying a fair salary to begin with…
those that quit have no place to go. there might be small brokerage houses that are wanting to get going in the area, but the market for branch managers is pretty thin right now. with MSSB consolidating some offices, and ML and BAC consolidating offices, branch managers are a commodity right now, it seems…plenty around
[quote=ABOM] mccann has his first call with branch managers tomorrow morning - ill keep you posted. On another note branch managers are dropping like flies. I know of 2 10mm+ branches where the managers have resigned in last few weeks. not fired - just quit.now we will need to go bring in new managers and give them"guarantees" vs. just paying a fair salary to begin with…
[/quote]
Interesting.
Were these managers that were force to produce that quit?
I got a good feeling about this guy abom.
I think he is gonna rock this place.
Thanks for updates.