Citi Agrees to Pay $590M in Class-Action Lawsuit Deal
The news comes as Citigroup and Morgan Stanley work out details regarding the Morgan Stanley-Smith Barney joint venture.
12 Best & Worst Broker-Dealers: Q2 Earnings
Earnings fell as much as 58%, but also jumped over 600% within the broker-dealer industry—AdvisorOne spotlights the six best and six worst.
Citi Adds 3 Advisors, $750M to Private Wealth
The news comes as Citi and Morgan Stanley dispute the value of their MSSB joint venture and Morgan Stanley continues to drop reps.
Branch Manager’s Cowboy Call: ‘Can You Ride for the Brand?’
Hard-driving, competitive, goal-focused, Keith A. Vanderveen, president of the home region of Wells Fargo Advisors’ Private Client Group, does not mince words.
Spanish Slump Shallower Than Predicted
Although the numbers showed that Spain entered a recession in the first quarter, its economy shrank less than expected and that seemed to be enough cause for investors to celebrate.
Morgan Stanley Tops Estimates; Loses 300 Advisors
Morgan Stanley Smith Barney advisors have average production of $787,000 and assets of $101 million.
Citigroup’s Pandit Rebuffed Despite Record Revenue
At an otherwise routine meeting, the only point of contention was the pay package, with more than half of attendees voting ‘nay.’
Citi Reports Record Revenue Led by International Transactions
The bank said Monday that it made $2.9 billion in the first three months of the year, or 95 cents per share, which includes a $1.3 billion accounting charge that Citi took because the value of its debt increased.
Citi Mulls Unloading Smith Barney Stake to Morgan
A Nomura Holdings analyst wrote in a letter to clients on March 22 that Citigroup executives indicated willingness to sell more than the scheduled 14% stake in Morgan Stanley Smith Barney if Morgan Stanley is interested.
For Big Banks, It’s a Case of Bill Gross vs. Gundlach, KBW, et al
In the case of Too Big to Fail vs. Market Expectations, it looks like negative market expectations are winning out against the big U.S. banks.