New wealth management firm recruiting from big firms; 'lot of unhappy people there'
UBS AG, Switzerland's biggest lender, said Robert J. McCann, the head of wealth management Americas, was the highest-paid member of the executive board in 2011, receiving total compensation of 9.18 million Swiss francs ($9.9 million).
Low rates, unenthused DIY investors are to blame
Six-member team charged with retaking market share in the U.S.
Pair of firms ranked No. 1 in J.D. Power and Associates for second year in a row
Say swifter acquisition of remaining Citigroup stake would likely involve leverage
James Gorman, the CEO of Morgan Stanley, says the market doesn't understand the potential of the firm's acquisition of Smith Barney. "They're focused on what our margins have been."
The following is an excerpt from <a href=http://www.amazon.com/Backstage-Wall-Street-Insider%252019s-Investments/dp/007178232X/ref=sr_1_1?ie=UTF8&qid=1333988682&sr=8-1>Backstage Wall Street: An Insider's Guide to Knowing Who to Trust, Who to Run From, and How to Maximize Your Investments</a>, written by Josh Brown, vice president and financial adviser at Fushion Analytcis Investment Partners.</a>
Peter Sampson, Kenneth Wiland Sr., and R. Morgan Purvis, as well as two assistants, joined the firm's Aiken, S.C., office from Morgan Stanley Smith Barney LLC, where they managed a combined $380 million.
Morgan Stanley Chief Executive Officer James Gorman said he told staff not to circulate a Goldman Sachs Group Inc. employee's op-ed criticizing that firm and that it wasn't fair for a newspaper to publish it.
UBS AG appears to be making good on its pledge to sharpen its focus on wealth management and rein in its investment banking operations.
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