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.
UBS to Cut 3,000 Jobs, $10B of Costs
By Myriam Balezou | Marion HalftermeyerIts Credit Suisse deal has increased UBS's workforce to about 120,000, which it wants to reduce by some 30% over time.
August 25, 2023
Ex-Wells Fargo, LPL Rep Gets 3.5 Years in Prison for Stealing $626K From ClientsThe broker pleaded guilty to stealing from clients at both firms to fund his gambling and personal expenses.
August 25, 2023
Wells Fargo to Pay $35M Over Excessive FeesWells Fargo overcharged nearly 11,000 investment advisory accounts over $26.8 million in advisory fees, the SEC says.
August 24, 2023
Wells Fargo Customers Report Account Outages — AgainBank retail clients reported problems using their bank debit cards and transferring funds, for instance.
August 24, 2023
Wells Fargo Faces John Hancock Suit Over Life Insurance IssueWhat happens when the owner of an insurance policy uses it as loan collateral and sells it through a life settlement?
August 24, 2023
Goldman, JPMorgan, Morgan Stanley & UBS to Pay $499M to Settle Stock-Lending SuitThe antitrust class action was bought by the Iowa Public Employees' Retirement System and other pension funds.
August 24, 2023
12 Ways to Be Popular in Wealthy CirclesYou don't need an Ivy League education or an upscale address to fit in with this crowd.
August 21, 2023
FINRA Names New Enforcement ChiefBill St. Louis succeeds Jessica Hopper, who stepped down in February.