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.
Merrill Lynch/Capgemini '09 Report: Time for FAs to 'Demonstrate Value'
By Janet LevauxAccording to the "2009 World Wealth Report" issued recently by Merrill Lynch Global Wealth Management and Capgemini, a global consulting services firm, the economic downturn...
July 27, 2009
Citigroup Makes Further Changes To Its Board of DirectorsCitigroup's board of directors now includes three new outside directors, a new non-executive chair for Citibank, N.A., a new oversight committee for Citi Holdings and...
July 22, 2009
Wells Fargo-Wachovia Shares Joint Results; Says FA Inflows, Sales, Recruiting 'Strong'The combined firm notes that it continues to experience robust broker recruiting - and says financial advisors hired this year are 60 percent more productive than those who have left the firm.
July 22, 2009
Morgan Stanley Posts Q2'09 Loss, SB Venture Boosts Wealth SalesThe 18,444 Morgan Stanley Smith Barney advisors had average annualized revenue of $671,000 and average client assets of $77 million in the quarter ended June 30, 2009.
July 17, 2009
Citi Boosts Net Income in Q2 Thanks to Sale of Smith BarneyCiti has an $11.1 billion pre-tax, or $6.7 billion after-tax, gain associated with the Morgan Stanley Smith Barney joint venture transaction, which closed June 1.
July 01, 2009
The Wirehouse BoutiqueWhen breakaway broker Robert Sayler defected from Morgan Stanley on a Friday afternoon in the spring of 2008, he left a 14-year wirehouse career behind...
July 01, 2009
Morgan Stanley Smith Barney: Venture Completes Its First StepsMorgan Stanley and Citi say they have finished the initial work on their Morgan Stanley Smith Barney joint venture, which had been targeted to close...
July 01, 2009
Not Cutting Back: J.P. Morgan Private Wealth Management CEO Joe KenneyNo doubt Joe Kenney, intent since boyhood on creating a career in financial services, aimed at one day becoming a CEO. Chances are, however, he...