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Nearly half of Wall Streeters to get bigger bonuses
Nearly every Wall Street worker is getting a bonus this year — despite public outrage over banker compensation.
Allianz to arm brokers with answers to clients’ retirement income questions
Allianz Global Investors is planning to roll out a series of tools and educational materials over the next year to help its top wirehouse and independent broker-dealer clients train advisers in talking to clients about retirement income.
Jimmy Tighe jumping from Morgan Stanley to Merrill Lynch
One of Charles Johnston's top lieutenants at the Morgan Stanley Smith Barney is racing to the door to join Bank of America Merrill Lynch.
Judge puts SEC on defensive over Bank of America deal
A judge has put a Securities and Exchange Commission lawyer on the defensive over a settlement resolving civil charges that accused Bank of America of misleading investors when it acquired Merrill Lynch.
Which wirehouse did high-net-worth investors rate tops?
After all of the controversy and consolidation in the wirehouse sector, Morgan Stanley Smith Barney LLC remains the top-rated firm among high-net-worth investors, according to Cogent Research LLC's 2010 Investor Brandscape report, released today.
Sieg retools Merrill Lynch’s retirement services group
Three months after he joined the company, Andrew Sieg, head of retirement and philanthropic services at Bank of America/Merrill Lynch, has reorganized its retirement services group
Brokers wait for economy to turn
After two disastrous years in a row, brokerage industry observers say something akin to normalcy may return this year.
Asset management biz boosts JPMorgan’s earnings
JPMorgan Chase & Co. said Friday it earned $3.28 billion in the last three months of 2009, extending a winning streak for big U.S. banks.
Broker-dealer industry revenue down 10%
The independent broker-dealer industry took a giant step backward last year, with the largest 25 firms collectively reporting a 10.3% drop in gross revenue.
Wirehouse walls set to come tumbling down?
Right now, defections to other firms aren't that common. But the big Wall Street firms could soon see an exodus of top-level brokers
Large adviser teams control 80% of wirehouse assets
Large adviser teams at wirehouses control, on average, 80% of their firm's assets, and about a third of the industry's total adviser-managed assets, according to Cerulli Associates Inc.
‘Too-big-to-fail’ could jack up loan costs for brokerages, banks
Provisions in legislation aimed at “too-big-to-fail” financial firms will increase borrowing costs for large institutions — and will make it harder to get secured lending, according to financial industry officials.
Jobless Wall Streeters sour on finance careers
The scent of money that drew many professionals to jobs on Wall Street has been dissipating, according to a survey of out-of-work finance folk.
Bank of America CEO search may extend into 2010
Bank of America is having such a hard time finding a new CEO that some analysts are wondering if Ken Lewis might have to stay past his planned Dec. 31 departure.
From under the radar into thin air
Easygoing Charles Johnston does not have the celebrity star power of the executives who run the other brokerage houses on Wall Street.
Slash and burn: The new Wall Street growth model
After a decade of pushing fee-based services, Wall Street is slashing and burning the infrastructure that has supported the business.
Merrill Lynch and Morgan Stanley Smith Barney go toe-to-toe for top brokers
The broker recruiting wars are heating up, with wirehouses jacking up their offers to new heights to lure more representatives in 2010.
Generous pay makes comeback on Wall St.
Happy paydays are here again — on Wall Street, at least. Compensation consulting firm Johnson Associates last…
MSSB exec: Smith Barney broker attrition has stabilized
The broker attrition at Morgan Stanley Smith Barney LLC is slowing down, according to Charles Johnston, its president and chief operating officer.
ETF Roundtable transcript
The following is an edited transcript of the round-table discussion. It was moderated by InvestmentNews deputy editor Evan Cooper and reporter David Hoffman.
