Displaying 114 results
Firms not seen taking big hits from ARS buybacks
The repurchase of some $35 billion worth of auction rate securities by major Wall Street firms isn't expected to have a material effect on most of the companies.
LandCap buys land loans from Wachovia
LandCap Partners has announced plans to buy $40 million of troubled land and construction loans from Wachovia Corp.
Wachovia to buy back $8.8 billion in ARS
Missouri securities regulators spearheaded the investigation into the firm's role in the market's February collapse.
Wachovia to cut 600 additional jobs
The bank now plans to ax 6,950 jobs — 600 more than it planned to cut — or about 5.8% of the total work force.
Arbitrators hit Wachovia for $5.3 million
In an arbitration case allegedly involving stolen stock, Wachovia Securities was ordered to pay clients $5.3 million in damages.
Wachovia’s chief risk officer is out
Donald K. Truslow, plans to retire once the bank names a successor for him, according to the firm.
Wachovia’s CFO Thomas Wurtz resigns
A spokeswoman declined to comment on the reason for Mr. Wurtz’s departure.
Wachovia, Fifth Third, CME
Wachovia reported a second-quarter loss of $8.9 billion, or $4.20 per share, while slashing its dividend by 87%.
Wachovia hits Edwards reps with raiding suits
Wachovia Securities LLC of St. Louis continues to file lawsuits against groups of legacy A.G. Edwards brokers who have left the firm.
Wachovia office searched for ARS docs
Regulators raided the St. Louis headquarters of Wachovia seeking records related to the sale of auction rate securities.
Wachovia outlook ‘bleak,’ analyst says
Analyst Meredith Whitney said the earnings outlook for Wachovia Corp. has been “drastically diminished.”
Brokers worried about clients, their businesses and employers
A budding panic is emerging among wirehouse brokers and their clients.
Wachovia names Treasury honcho CEO
Robert K. Steel, undersecretary for domestic finance in the Department of the Treasury, is the new president and CEO.
Wachovia seeks out Goldman for guidance
Wachovia has retained Goldman to analyze the loans the bank has in its portfolio, and to evaluate and suggest other alternatives.
AIG Advisor grabs exec from rival LPL
AIG Advisor Group has snagged a highly regarded executive from rival LPL Financial to lead two of its broker-dealers, FSC Securities Corp. and Advantage Capital Corp., both of Atlanta.
Finra panel hands win to Stifel on Wachovia raiding case
Wachovia Securities LLC of St. Louis last month lost an important raiding case to crosstown rival Stifel Nicolaus & Co. Inc., which has had success cherry-picking brokers and managers from its competitor.
Wirehouse brokers faced many changes
Wirehouse brokers have had to respond to many changes in the industry in the past decade.
Structured market leery of open systems
Open architecture has been slow to come to the structured products market.
Wachovia chief asked to leave by board
G. Kennedy Thomson is retiring after the board asked him to leave in the wake of bad acquisitions and weak financial results.
Wachovia team defects to Riverfront
Among the 10 joining Riverfront Investment Group LLC.today are five new partners of the firm.
