After Morgan Stanley took control of Smith Barney in May 2009 from Citigroup Inc., David Hopkins grew disillusioned with his new bosses.
Reaffirms independent broker-dealers' credit rating as 'stable'; brokerages could weather unexpected downturn
UBS AG, Switzerland's biggest bank, will probably report a fourth straight quarterly profit tomorrow and the lowest wealth management redemptions since 2008.
Sluggish recruiting and the continued slow migration of advisers to smaller firms has left the three biggest wirehouses either adding minimally to the work force or watching the head count drop
Morgan Stanley, owner of the world's largest brokerage, reported a third-quarter loss of 7 cents a share after writing down a stake in Revel Entertainment LLC, an Atlantic City casino project.
From giants such as Citigroup Inc. to small broker-dealers such as Pacific West Securities Inc., brokerage firms have kept their representatives in the dark about problematic details in investments.
A former broker at Merrill Lynch & Co. and Citigroup Inc. lost a bid to throw out his conviction for selling access to his brokerages' internal “squawk boxes” after arguing prosecutors hid evidence of his innocence.
While those of us who are mired deep in the minutia of the recruiting wars feel that the environment is as hot as ever, the trade press reporters who have called me have been asking why the movement has slowed. What's going on?
The industry-sponsored group that oversees stock brokers fined Merrill Lynch $500,000 Wednesday for failing to provide sales charge discounts to eligible customers on certain investments.
Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., said Wall Street is like a church that benefits society, then falters by operating a gambling venture on the side.
Morgan Stanley Smith Barney LLC this month began imposing quarterly fees of $35 on households with total accounts under $25,000, the latest development in big brokerage firms' long-simmering campaigns to wean financial advisers from small accounts.
In an executive switch that creates an opening in its wrap account business, Morgan Stanley Smith Barney LLC has named a new chief operating officer and a new private-wealth-management head.
With dramatic changes re-shaping the brokerage industry in recent years, Danny Sarch wants to know: How will the wirehouses continue to make money?
UBS will rebuild its reputation and revenue by marketing the advisory strength of its brokers and minting better products for wealthy investors, according to its new CEO
Elliot Weissbluth calls suit an intimidation tactic designed to deter other advisers from leaving
Units of Bank of America Corp.'s Merrill Lynch & Co., UBS AG and Bear Stearns Cos. were sued by Charles Schwab Corp. over claims they lied or omitted information on mortgage-backed securities
Goldman Sachs & Co. has agreed to pay $550 million to settle civil fraud charges that accused the Wall Street giant of misleading buyers of mortgage-related investments.
When it comes to controlling client assets, LPL Investment Holdings Inc.'s recent IPO registration offers clear proof that the remaining four wirehouse broker-dealers still dwarf the more diverse galaxy of independent broker-dealers.
UBS Financial Services Inc. said it hired Thomas G. McLoughlin, former chief executive officer of National Public Finance Guarantee Corp., as head of municipal bond research for its Wealth Management Americas unit.
Bank of America Corp. is re-branding its online-discount-brokerage platform under the Merrill Lynch imprint in an attempt to attract young investors, and reclaim assets of Merrill clients who keep self-directed brokerage accounts at rivals such as Charles Schwab & Co. Inc. and TD Ameritrade Holding Corp.
