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.
BofA Sells Half Its Stake in Chinese Bank for $8.3 Billion
By Janet LevauxBank of America said Monday it was selling about 13 billion common shares, or 5%, of China Construction Bank to a group of investors for some $8.3 billion in cash and an after-tax gain of $3.3 billion.
August 23, 2011
UBS to Cut 3,500 Jobs; Wealth Unit Losing 350UBS said Tuesday it planned to cut staff by 3,500 as part of its overall plan to trim about $2.5 billion from its yearly expenses by the end of 2013 to improve operating efficiency.
August 22, 2011
FSC Names Jerry Murphy New President and CEOAtlanta-based FSC Securities Corp., one of Advisor Groups three independent broker-dealers, said it named Jerry Murphy as its new president and CEO on Monday.
August 19, 2011
Raymond James Adds HNW Advisor From UBSThe $1 million producer is expected to join the independent channel of Raymond James with about $110 million in client assets.
August 17, 2011
Raymond James Hires Two Merrill AdvisorsRaymond James said Wednesday that it had added two Merrill Lynch advisors to its Raymond James & Associates branch office in Tallahassee, Fla., with about $114 million in assets and more than $600,000 in yearly fees and commissions.
August 17, 2011
Securities America Sale: ‘Amazingly Low Price,’ Expert SaysThe news Wednesday that Ladenburg Thalmann is buying Securities America, for what some call a bargain price, resolves some issues for the IBDs 1,700 advisors, but raises a good number of questions, as well, experts say.
August 15, 2011
Baird Adds 5 Morgan Stanley Advisors in Salt Lake CityThe veteran financial advisors joining Baird manage $250million-plus in client assets.
August 12, 2011
Van Eck, Merrill Let Investors Trade HOLDRs for ETFsThe deal effects six HOLDRS and should take place in the fourth quarter. Merrill Lynch is expected to de-list the HOLDRs after the transaction, according to Van Eck.