John Thiel, Head of Merrill Lynch, to Step Down
Thiel says he will stay on as an advisor; the new chief will be Andy Sieg, head of Global Wealth & Retirement Solutions.
Merrill Hires 3 New York Advisors From UBS
Bank of America-Merrill Lynch has recruited three veteran financial advisors from UBS with combined client assets of $750 million.
12 Best & Worst Broker-Dealers: Q2 Earnings, 2016
Like in Q1, profits for financial firms generally moved in the same direction, with one exception.
BofA Sees Digital Payments Cutting $1 Billion Cash-Handling Cost
"The more electronification, the less people," CEO Brian Moynihan says.
BofA Q2 Profit Drops 18%
Revenue for the wealth group continues to drop, along with fees and commissions at Merrill and elsewhere.
Bank Earnings Could Drop 12% in Q2: FactSet
As JPMorgan is set to report earnings, investors and analysts continue to express concerns about banks and other financial services firms.
Gundlach: Low Yields Leading to ‘Mass Psychosis’
The market is full of madness, but there are still opportunities to watch for, said DoubleLine CEO Jeffrey Gundlach.
Beyond 401(k)s, Merrill Boosts Offerings to Corporate Clients
The wirehouse has created a new executive post to increase banking, wealth management and "financial wellness" services for corporate clients and their employees.
SEC Deals Merrill a $425M Wallop; Other Firms Could Be Next
The regulator says the wirehouse failed to safeguard investors' cash and other holdings; other broker-dealers must self-report customer protection violations by Nov. 1.
11 Best & Worst Broker-Dealers: Q1 Earnings, 2016
Results for financial firms were generally the same: bad, with one standout.