Q1 Earnings Outlook: Grim Overall but Not for Financials
First-quarter earnings are expected to suffer the biggest decline in more than five years, but financial company earnings are forecast to rise.
HighTower Adds $750M Team From Morgan Stanley
Meanwhile, Focus Financial brings in a $600 million group, and Merrill Lynch grabs a $160 million advisor.
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Merrill Adds Janney Advisor, Ameriprise Picks Up 3 Reps
The advisors come on board the two firms in Pennsylvania, Texas, Florida and New York.
UBS Rolls Out 5-Year Succession Program
The plan gives retiring reps the chance to earn 230% of yearly fees and commissions and, partnering reps can get a 5% bonus.
Morgan Stanley Boosted Gorman’s Pay 25% for 2014
James Gorman received $22.5 million for his performance last year, but a few other CEOs earned even more.
Ex-NFL Star Sues BofA for $20M
Dwight Freeney, a former Colts and Chargers player, accuses the bank of getting him caught up in a con game.
Wells Adds 5 Reps as Raymond James Grabs One of Its FAs
In other news, U.S. Trust shares the names of its latest recruits, and two divorce-focused groups merge.
Women’s Networks Boost Profits: FWA
Successful women’s internal networks help their firms engage female clients and close business deals, a survey by the Financial Women's Association found.
Wall Street’s 15 Biggest Spenders on Lobbying in Washington
Wall Street banks, financial services firms and trade associations spent $1.4 billion in the 2013-2014 election cycle, according to Americans for Financial Reform.