Wirehouse Firms
Learn the ins and outs of the wirehouse channel, including news, analysis and more on Bank of America-Merrill, Morgan Stanley, Wells Fargo and UBS.
2011 Q1 Earnings: UBS Wealth Unit Swings Back to Profit of $126 Million
By Joyce HansonUBS Wealth Management Americas reported a Q1 2011 pre-tax profit of 111 million Swiss francs, about $126 million, up from a loss in the prior quarter.
April 22, 2011
JPMorgan Clearing Deal Will Return $800 Million to Lehman EstateJPMorganChase & Co. will return assets worth $800 million to lawyers representing the brokerage arm of failed investment bank Lehman Brothers Holdings Inc.
April 21, 2011
2011 Q1 Earnings: Morgan Stanley Wealth Unit Grows Sales 11%The current Morgan Stanley Smith Barney FA headcount of 17,800 is down about 2%, or by 340 reps, from last year and fell roughly 1%, or by 243 reps, from the prior quarter
April 20, 2011
BofA Merrill Spins Off BAML Capital Partners Private-Equity Unit to ManagersBank of America Merrill Lynch has reached an agreement with senior leaders of BAML Capital Partners to separate the private-equity buyout unit from the bank.
April 20, 2011
2011 Q1 Earnings: Wells Fargo’s Wealth Unit Boosts Results, FA HeadcountWells Fargo Advisors adds about 50 financial advisors, as company’s overall results miss estimates.
April 19, 2011
BofA, Morgan Stanley, Wells Fargo Battle to Regain Business Lost to RIAs: FRC StudyWirehouses are working to regain market share lost to RIAs by making major changes in the way they work with advisors, asset managers and investors, says FRC.
April 19, 2011
2011 Q1 Earnings: Goldman Profits Fall 21% as Bank Pays Warren Buffett BackGoldman Sachs reported Tuesday Q1 2011 profits of $2.74 billion, down 21% from a year ago, after buying back Warren Buffett’s preferred stock.
April 18, 2011
2011 Q1 Earnings: Citi Reports Lower Profits, SalesNet income drops 32%, but EPS are $0.01 ahead of analysts’ expectations.