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Wells/Wachovia wealth units to unite by late 2Q
Decisions involving leadership roles at Wells Fargo Wealth Management Group in the wake of the merger of Wells Fargo and Wachovia should be implemented by the end of the second quarter, according to Jay Welker, president of the group.
Wachovia’s Ludeman is St. Louis booster
Wachovia Securities chief Danny Ludeman was yesterday tapped to lead economic development efforts for the St. Louis Regional Chamber and Growth Association.
Wells gives Carroll $8 million retention deal
David Carroll, senior executive vice president of Wells Fargo's new wealth brokerage and retirement services group, is getting an $8 million retention bonus.
JPMorgan to cut 12,000 jobs
JPMorgan Chase & Co. said Thursday it will eliminate about 12,000 jobs as it folds in the operations of Washington Mutual Inc.
Wachovia CEO says Wells deal unlike MSSB
Last Friday, Danny Ludeman, chief executive of St. Louis-based Wachovia Securities LLC, spoke with InvestmentNews.
No retention bonus for Wachovia reps
Wachovia Securities brokers will be getting no retention bonuses from Wells Fargo.
Wachovia settles with ARS investors for $7B
Wachovia Securities reached a settlement with the SEC in which it agreed to pay investors more than $7 billion to buy back failed auction rate securities.
Report: UBS talking joint venture with Wachovia
Wachovia Securities LLC and UBS Financial Services Inc. of New York have engaged in preliminary talks about a joint venture for their retail-brokerage units, according to a report in today’s New York Post.
175 Wachovia employees receive walking papers from Wells Fargo
In a move that smacks of corporate retribution, Wells Fargo & Co. has fired 175 employees of newly acquired Wachovia Corp. who once worked at the San Francisco-based bank.
Wachovia employees whacked by Wells Fargo
In a move that smacks of corporate retribution, Wells Fargo & Co. has fired 175 employees who left Wells to work at Wachovia Corp.
Wells Fargo unveils post-merger management
The company laid out top management appointments for its expanded brokerage businesses following its merger earlier this month with Wachovia Corp.
Transcript: Wirehouse/Regional Brokerage FIrms Round Table
The following is an edited transcript of the round-table discussion.
Brokers in no rush to go independent
As much as executives at custodian firms dream about scores of wirehouse brokers going independent, they say that it's just not happening.
Prudential sells stake back to Wachovia
Prudential Financial Inc. plans to sell its end of a joint stake in Wachovia Securities Financial Holdings LLC of St. Louis to Wachovia Corp.
Wells Fargo to raise $10B for Wachovia buy
The capital raising comes one week after Wells Fargo issued 25,000 preferred shares to the Department of the Treasury in exchange for $25 billion as part of the government's plan to inject capital into large U.S. banks.
Wachovia dives in swan-song quarter
Wachovia Corp. reported a massive third-quarter loss today in what is likely to be its last earnings report as an independent company.
Investors, advisers enraged by stall in ARS relief efforts
Although thousands of investors trapped in auction rate securities sold by Merrill Lynch, UBS AG, Wachovia Corp. and other big banks and brokers are finally getting relief through regulatory-mandated repurchases by the firms, others who bought the securities through brokers untouched by the settlements are still stewing.
Government’s reach worries big-firm reps
Brokers and industry observers worry that the Department of the Treasury's capital purchase program to inject $250 billion into the financial services industry could mark a new era of government control and mistrust of the industry.
Wells may cut Wachovia investment unit loose
Wells Fargo & Co. of San Francisco may not keep Wachovia's investment banking operation, according to Bloomberg News.
Wachovia cancels trip for top producers
Wachovia Securities LLC has canceled a trip to Greece for top producers that was scheduled for next week.
