Exec will become chairman of UBS Americas, focusing on clients and strategic priorities. Tom Naratil, the group CFO and COO, will become president of UBS Wealth Management Americas and UBS Americas.
The third billion-dollar-plus team to leave Morgan this summer is the latest in a series of big swaps.
Firms need to think differently as the arms race in upfront money continues unabated.
Wells finds exclusive recruiting agreement not enough to close the deal with all of the Swiss firm's brokers.
Houston-based brokers, who specialize in ultra-high-net-worth clients, include vets from Credit Suisse.
One three-man team had $270M in assets, while a fourth individual joining separately had $155M.
Curtis Rach and Jud Crary join established practice in Irvine, Calif.
Mark Wilkins managed about $425 million in client assets at the wirehouse.
Firm combines equities, multiasset and hedge funds into single division.
Bob Mulholland, who oversaw the firm's 7,000 advisers and helped engineer a turnaround in the wirehouse's brokerage unit, will be replaced by UBS vet Brian Hull.
Fine related to two actions from the SEC and Finra over sales of closed-end bond funds and a former broker's fraud.
Revenue from transactions decreased 28.5%, as skittish investors stayed away from the market.
Move to restrict broker expungement should improve confidence that the arbitration system is fair to investors.
In a surprise move, the president of Morgan Stanley's wealth management and investment management divisions now will oversee only wealth management.
Executive sees recruiting opportunity across the country after October recruiting deal struck.
Using the example of the beer industry to prove financial advice is ripe for more moves to independence
A group of advisers left to form their own RIA, Corient Capital Partners.
Clients are looking for a more digital experience in an increasingly digital world, but the advice industry hasn't kept pace with the times, according to Mary Mack, president and head of Wells Fargo Advisors.
Newly compiled <i>InvestmentNews</i> research shows how the nation's biggest brokerages rank across four key metrics.
Free on $200,000 bond, Galen Marsh faces as long as five years in prison when he's sentenced Dec. 7
