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.
How UBS Bought Credit Suisse for a Song — With Morgan Stanley's Help
By Jan-Henrik Foerster, Aaron Kirchfeld & Katherine GriffithsUBS paid about double what it spent on its failed purchase of Wealthfront and got more than 50 times the client assets.
April 03, 2023
Merrill to Pay $9.5M Over Undisclosed FeesThe firm paid part of these foreign exchange fees to advisors, referring to them as commissions in internal documents, the SEC says.
April 03, 2023
Is Sieg's Departure 'Beginning of the End' for Merrill's Thundering Herd?There's a risk the Merrill brand could be phased out over the next few years, says industry consultant Jeff Nash.
March 30, 2023
Merrill Wealth Chief Sieg Jumps to CitigroupReplacing him at Merrill's wealth unit, which had assets of $2.8 trillion last year, will be Lindsay Hans and Eric Schimpf.
March 30, 2023
Average Wall Street Bonus Plunges 26%This meant the typical bonus paid to employees in New York's securities industry fell to $176,700, the lowest since 2019.
March 29, 2023
UBS Taps Former CEO Ermotti to Replace HamersUBS Group is bringing back Sergio Ermotti as chief executive officer to oversee the historic acquisition of Credit Suisse Group.
March 27, 2023
Schwab Wins $7M From Morgan Stanley, Ex-AdvisorsChristopher Armstrong and Randall Kiefner, fired by Morgan Stanley for violating its transition policy, refuse to pay their share. "
March 23, 2023
NBA Players Lost $13M in Alleged Scheme Tied to Ex-Morgan Stanley AdvisorThree players involved in the lawsuit are Jrue Holiday, Chandler Parsons and Courtney Lee, their lawyer said.