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UBS CEO Sergio Ermotti may just have ‘Done a Diamond’ with his widely reported message to bankers at the firm that they should take more risk and not be afraid to make mistakes.

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Jürg Zeltner has transformed UBS Wealth Management into an innovative and client-centric firm, helping boost its status as the global private bank of choice

The headline results of Euromoney's 2015 foreign exchange survey show the leading banks have been remarkably consistent, despite the upheavals in the sector. But, beneath the surface there are changes that will transform the competitive landscape of the industry. Deeper analysis of the survey results demonstrates that’s already starting to happen.

The $5.6 billion of fines handed out to six leading foreign exchange banks will not be the end of the crisis afflicting FX, but it might be the beginning of the end. The people at the top of the industry are starting to think more deeply about what will drive success in the FX markets of the future. How can foreign exchange rebuild its zest, and its reputation?

Citi retains top spot in Global FX as clients execute more than half electronically for the first time

Overall market share

UBS pushed into second place; majority of private banks globally expect improved revenues in 2015.

Best private banking services overall

Jürg Zeltner, chief executive at UBS Wealth Management, talks to Euromoney about the new challenges in investment management and asset allocation facing the private-banking industry.

Mark Haefele, global chief investment officer at UBS Wealth Management, says his firm is looking to the US for this year's returns.

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UBS was named Best global bank and Bank of America Merrill Lynch won the Best global investment bank prize at Euromoney’s Awards for Excellence Dinner in London.

The clear definition of a radical strategy distinguishes the Swiss bank from most of its peers. The successful execution of that strategy makes it Euromoney’s Bank of the Year.

Lots of people in the industry will tell you they always wanted to be an investment banker. Few mean it like Andrea Orcel does. His thesis at university was on investment banks and what they do for their clients.

Less than three years ago UBS was written off as one of the ultimate victims of the financial crisis. The bold decisions taken then by a new chief executive and his management team make it today a bank that others seek to emulate. Sergio Ermotti pinned UBS’s future to the core of its leading global wealth management business. Now the business is starting to look more than the sum of its parts.

UBS announces that Alex Friedman, global chief investment officer, will be leaving the firm.

Asia and emerging markets provide the bulk of net new assets for UBS in the first quarter.

Dismayed by the media coverage of the FX fixing controversy as the new Li[e]bor, which suggests the fixing practice of FX dealers, exposed to principal risk for large orders, constitutes an open-and-shut case of outright manipulation and is a new controversy? Well, continue reading.

UBS rewrites rules on how to charge Swiss clients fees; cross-border banking woes to hit smaller banks.

Change is afoot in the private-banking industry as UBS launches a ‘middle-way’ approach to charging clients fees for advice, Euromoney can reveal.

Friedman joined UBS in March 2011, from his former role as CFO for the Bill and Melinda Gates Foundation.

Anyway, back to Switzerland and the Swiss banks. Things do appear to be stabilizing at UBS. Sergio Ermotti was appointed chief executive in late 2011 and a year later he installed the long-term Merrill Lynch banker Andrea Orcel as head of UBS’s investment bank. UBS underwent an epiphany and scaled its fixed-income division back drastically. The new focus was to be wealth management and corporate finance, which would hopefully flourish untainted by scandals in the fixed-income division. However, in the third quarter of 2013, UBS suffered a setback. The bank announced that it would delay, by at least a year, its aim to reach a 15% group return-on-equity target. This retreat was due to an unexpected demand from the Swiss regulator, Finma, requiring UBS to set aside more capital against "known and unknown litigation".

Banks still dependent on ECB funding; recent run-up in shares might have gone too far.

The bank made most of the right calls last year to achieve a positive performance for 90% of client portfolios.

Firm seen as ‘catalyst for consolidation’; Fierce competition driving down fees

Most of us carry scars from the excesses of the debt-fuelled casino days. The acceleration, crash and burn of the 2005-09 period led to lost jobs, dwindling pension pots and puny returns on cash savings. But for some the great financial recession has cast few shadows.

The annual report for 2012 released by UBS in March demonstrated that its management continues to flounder, while offering perverse hope that the disaster-prone bank might be stumbling towards a sustainable business model.

Strong wealth management focus; Main push in Brazil and Mexico