The move is part of a reorganization in which UBS will offer comprehensive wealth management services in the U.S. through UBS Financial Services and UBS Bank USA.
In an amended complaint, Marilyn Booker also alleges wealth management head Andy Saperstein had excluded Shelly O’Connor, the Black former co-manager of the unit, from team meetings.
Mother-son advisory team Paulette and Beaux Treguboff, who work primarily with blue-collar investors, were seeking more independence to work with smaller accounts.