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.
Volcker Tells Charlie Rose: The 'Volcker Rule' Still Works
By Marlene Y. SatterLobbying efforts notwithstanding, the Volcker Rule orohibiting banks from proprietary trading is still effective, according to no less an authority than Paul Volcker, for whom it was named.
October 21, 2011
IAA’s Tittsworth: Fiduciary Ruling Likely in Q1 of 2012: RISAt Retirement Income Symposium, David Tittsworth provides recent history and likely next developments on fiduciary standard for all.
October 20, 2011
UBS to Trim, Not Sell, Investment Bank, Report SaysAs further details emerge regarding its recent $2.3 billion trading loss, UBS interim CEO Sergio Ermotti has decided against spinning off or selling the investment bank and, instead, plans to reduce its size, especially in its fixed-income work.
October 19, 2011
Morgan Stanley Tops Estimates; Advisors Attract $15.5B of Inflows: Q3 EarningsMorgan Stanley said Tuesday that it had net income of $2.2 billion, or $1.14 per share, from continuing operations compared with income of $314 million, or $0.05 per share, for the same period a year ago, beating analysts estimates.
October 18, 2011
Q3 Earnings: Goldman Joins Other Big Banks in Struggle Through Bad Economic ClimateJoining other big banks that have reported Q3 2011 earnings in the last week, Goldman Sachs on Tuesday announced less-than-stellar results due to trading and investment bank weakness.
October 18, 2011
Q3 Earnings: BofA Tops Estimates as Merrill Boosts Advisor CountNet inflows of client assets were nearly $2 billion in the third quarter for the wealth-management unit vs. outflows of about $2.5 billion last year.
October 17, 2011
UBS Survey: Investor Pessimism IncreasingEconomic growth and the different views of Californians are discussed during a wealth-management event featuring Bill Clinton.
October 17, 2011
Q3 Earnings: Citigroup's Climb 74% on Accounting GainCiting a one-time accounting boost, Citigroup reported a 74% rise in Q3 2011 profits compared with a year ago. Citi CEO Vikram Pandit said the bank continues to pare down its brokerage and asset management units.