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Citi spent $3.5 million to reward top Smith Barney advisers
Embattled banking giant Citigroup Inc. spent about $3.5 million to provide rewards for top-performing advisers at its Smith Barney brokerage unit.
Smith Barney ends exclusive Legg fund deal
Smith Barney's exclusive deal with Legg Mason to distribute funds run by Bill Miller has come to an end.
Judge clears two ex-Smith Barney brokers
Two ex-Smith Barney brokers have been cleared of allegations that they took private client information to their new firm.
Smith Barney bleeds as it prepares for merger
Smith Barney is losing brokers and advisers by the score and assets by the billions as it prepares for its new role as the junior partner to former rival Morgan Stanley in their impending joint venture.
Smith Barney seeks restraining orders against four ex-reps
Smith Barney, facing a rising number of broker departures from its branches, this month hit four ex-reps and a rival broker-dealer with a lawsuit.
MSSB offers retention bonuses
Morgan Stanley will offer a retention package for brokers who will be part of the new Morgan Stanley Smith Barney joint venture of up to 105% of 2008 production.
Wachovia CEO says Wells deal unlike MSSB
Last Friday, Danny Ludeman, chief executive of St. Louis-based Wachovia Securities LLC, spoke with InvestmentNews.
Brokers depart Smith Barney for Robert W. Baird
Smith Barney has lost 15 advisers in the Baltimore area to Robert W. Baird & Co. Inc.
Retention deal same for Morgan Stanley, Smith Barney reps
Anxious advisers at Morgan Stanley and Smith Barney have received some comforting words from James Gorman, the co-president who will oversee the two brokerage firms when they form a joint venture later this year.
Low-producers to exit wirehouses
There will be a large migration of low producers from the wirehouses this year, industry observers predict.
House committee explores payouts at brokerage firms
In the shadow of the Obama administration's efforts to curb compensation for top executives at bailed-out financial institutions, lawmakers are examining payouts at the retail-brokerage operations of those firms.
McColgan’s exit from Morgan raises service issues
The departure of Ellyn McColgan after just 10 months as president and chief operating officer of Morgan Stanley's Global Wealth Management Group robs the company of some much-needed client service talent, a consultant said.
Broker shift to RIA status slow but steady
Disenchanted brokers are migrating slowly to independent channels, adding to the coffers of major custodians like Charles Schwab & Co. and Fidelity Investments.
Morgan Stanley scores big with SB Consulting Group
By agreeing to a joint venture with Citigroup Inc., Morgan Stanley may have bagged the crown jewel of Citi's empire: the Smith Barney Consulting Group.
Citigroup’s private bank unit not seen as leader
Post-Smith Barney, Citigroup Inc.'s hopes for capturing a greater share in the ultra-high-net-worth segment of the wealth management market will rest largely with its private bank unit.
McColgan’s future in joint venture is unclear
Ellyn McColgan, the hard- charging executive who was drafted to run Morgan Stanley's recovering Global Wealth Management Group last year, appears to have been sidelined by the firm's decision to combine forces with Smith Barney.
Morgan Stanley-Citi combo doesn’t float brokers’ boats
Just 27.1% of registered representatives at wirehouses and regional brokerage firms said that they would be willing to leave their firms to work for the firm created by the joint venture between Morgan Stanley and Smith Barney, according to an InvestmentNews survey.
McColgan’s role unclear in MSSB venture
Ellyn McColgan, the hard-charging executive who was drafted to run Morgan Stanley’s recovering Global Wealth Management Group last year, appears to have been sidelined by the firm’s decision to combine forces with Smith Barney.
The new thundering herd?
The proposed merger of Morgan Stanley and Citigroup Inc.’s brokerage businesses would create a brokerage behemoth, with 23,000 registered representatives and financial advisers, managing more than $2 trillion in assets.
Wirehouse grids squeeze low producers
The lowest-producing brokers at New York-based wirehouses Merrill Lynch & Co. Inc., Morgan Stanley and Smith Barney are…
