Wirehouse Firms
Learn the ins and outs of the wirehouse channel, including news, analysis and more on Bank of America-Merrill, Morgan Stanley, Wells Fargo and UBS.
Greenspan to Wall Street: Drop Dead
By Joyce HansonAt SIFMAs annual meeting in New York, former Fed chairman advocates letting big banks fail.
October 18, 2012
Morgan Stanley Tops Earnings Estimates, Boosts Asset FlowsIts advisor count, though, drops by 5% from last year; average production is up but trails that of Merrill Lynch.
October 17, 2012
Former Morgan Stanley Chief Mack on Pandit: ‘Clearly There Was Unhappiness With the Board’John Mack, former chairman and CEO of Morgan Stanley,said "there was a view clearly by shareholders that change was a good thing."
October 17, 2012
BofA Earnings Beats Estimates, but Advisors’ Sales SlowAs bank sees plunge in profits from last year's Q3, the number of Merrill Lynch advisors drops by one from the previous quarter to 17,533.
October 16, 2012
Sheila Bair Calls Pandit’s Departure From Citi a ‘Very Positive Move’Bair had "concerns" about Pandit's qualifications to serve as the CEO of Citigroup.
October 16, 2012
Citigroup CEO Pandit Steps DownVikram Pandit has resigned as CEO of Citigroup, effective immediately, and is also giving up his place on the companys board. President and Chief Operating Officer John P. Havens has also stepped down.
October 15, 2012
Finance Sector’s Q3 Growth Seen Leaving Others in DustEarly reports for the finance sectors third-quarter 2012 performance indicate that it is on track to best all other sectors, at overall profits of 11.8%, in what looks to be an otherwise lackluster earnings season.
October 15, 2012
Morgan Stanley Sued for Targeting Black HomeownersAccording to the ACLU, who filed the lawsuit, the case is the first to link racial discrimination to mortgage-backed securities.