Morgan Stanley Tops Q1 Estimates; Wealth Unit Boosts Profits
The firm's advisor headcount fell below 16,000 advisors, but production rose to nearly $960,000.
Baird Adds $350M Ex-Schwab Rep
Meanwhile, Raymond James and Ameriprise pick up teams from Morgan Stanley and Stifel.
Best Full-Service Investment Firms Ranked by Investors: J.D. Power — 2015
Overall satisfaction is stagnant across full-service broker-dealers, the survey finds.
Merrill Rehires Branch Manager From Morgan Stanley
Michael Casey returns to the Thundering Herd after six years at rival wirehouses.
HighTower Adds $750M Team From Morgan Stanley
Meanwhile, Focus Financial brings in a $600 million group, and Merrill Lynch grabs a $160 million advisor.
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.
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.
Morgan Stanley CFO to Leave for Google
Ruth Porat will take the same position at Google and will be one of the few female top executives in Silicon Valley.
Raymond James, LPL Add Teams From Morgan Stanley
The two groups each have $200 million or more in assets; Securities America taps recruiter; Foothill Securities brings on $1B group.
Morgan Stanley’s Dhanda Named to New Role in Wealth Unit
He replaces Andy Saperstein, who is becoming co-COO of institutional securities.