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.
Class action discrimination suit looks set to go to trial after latest court ruling
Jennings pleads not guilty to allegedly stabbing cabbie after disupte over fare
Retention contracts at wirehouses winding down; more confidence in going indie
The door from the trading floor to the chief executive's office opens, and before it can close, the voice of a broker working the phones is heard, using a line that could have been lifted from the Shearson Lehman playbook of the go-go 1980s.
When John Thiel took over as head of U.S. Wealth Management for Bank of America Merrill Lynch in April, the 15,000 or so Merrill Lynch financial advisers breathed a collective sigh of relief.
While some aspects of recruiting activity in the brokerage industry appears to have slowed a bit in 2011, things have started to heat up as of late -- with a number of large teams recently changing place, according to data tracked by <i>InvestmentNews.</i>
Judge gives approval to certification; plaintiff's claim BofA misled shareholders about bonuses, losses
Researcher says slice could dip to 35% by 2013, down from 50% in 2007; some self-pruning
