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How stocks of wealth management firms are holding up this year
Focus Financial is going private. There’s a banking crisis. What has the impact been on these companies?
UBS, Credit Suisse among banks facing US probe into Russia sanctions
As the Justice Department investigates whether financial professionals helped Russian oligarchs evade sanctions, subpoenas also went to employees of some major US banks.
Citi sues advisor who jumped to Morgan Stanley over $636 million book
Citi alleges Steven Taub is violating a 12-month nonsolicitation agreement and has already convinced clients to move more than $100 million.
Crack appears in First Republic wealth management business
Vishal Bakshi, an advisor who reportedly has $1.5 billion in client assets, left to join Morgan Stanley late last week, after signing on at First Republic less than a year ago.
Sanctuary adds Morgan Stanley team overseeing $170 million
Columbus, Ohio-based Matthew Terwilliger and his team will operate as Iterhic Wealth Advisors.
First Republic hiring spree focused on these four firms
Almost half the financial advisors hired by First Republic since 2010 came from Wells Fargo Advisors, J.P. Morgan Securities, UBS Financial Services and Morgan Stanley.
UBS credit outlook cut to negative by S&P, Moody’s following Credit Suisse deal
In addition, Fitch places UBS on rating watch negative due to uncertain implications of the acquisition on the combined credit profile of the two banks.
UBS swallows Credit Suisse, still eyes growth in US
The UBS deal to acquire its banking rival, along with the continued drop in the share price of First Republic Bank, could mean a further shake-up in the US wealth management market.
First Republic stock falls in early trading after S&P cuts rating for second time
The rating agency lowered the bank's long-term issuer credit rating to B+ from BB+, having already downgraded the lender to junk last Wednesday.
UBS to buy Credit Suisse in deal to end crisis
The Swiss bank is reportedly paying more than $2 billion for its rival in an all-share deal priced at a fraction of Credit Suisse's close on Friday.
First Republic gets $30 billion in fresh deposits in bank rescue
The plan, which the banks devised with US regulators, is meant to stave off a widening panic in the wake of regulators' seizure of Silicon Valley Bank and Signature Bank over the past week.
JPMorgan, Morgan Stanley in talks for First Republic, WSJ says
Several large banks are discussing a potential deal that could include a sizable capital infusion to shore up troubled First Republic.
Morgan Stanley partners with OpenAI on internal chatbot for its advisors
Answers to advisors' questions will be generated exclusively using Morgan Stanley's library of content and data.
Raymond James adds Wells Fargo team with $450 million in assets
The father-son pair, David and Paul Gwidt, will operate as Gwidt Wealth Management Group in Racine, Wisconsin.
Raymond James adds advisor managing $350 million at UBS
Richard Weisberg will operate as Weisberg Wealth Management in Naples, Florida.
Wells Fargo advisors with $1.45 billion in assets go independent with LPL
The core group of Angie Ostendarp, Jordan Raniszeski and Mary Sherrill Ware is joined by Mitch Mayfield and Jeff Vandiver.
UBS CEO gets 11% pay hike
Ralph Hamers received $13 million for his second full year in the job while the overall bonus pool for the rest of the firm was cut 10% to $3.3 billion.
Morgan Stanley ESG ETFs get the cold shoulder
Critics say Morgan Stanley's big launch of six Calvert ETFs was poorly timed in an environment where ESG has become a political football.
UBS adds pair of Merrill advisors managing $640 million
Brian Mariash, James Lowther and their team will operate as Mariash Lowther Wealth Management in Sarasota, Florida.
Morgan Stanley ordered to pay Schwab $7.3 million over broker recruiting
In its arbitration claim, Schwab accused Morgan Stanley and the two brokers who joined Morgan Stanley of violating a non-solicitation agreement.
