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.
Compensation Spending Down at Goldman, Up at Smaller Firms
By Janet LevauxGoldman Sachs ended 2011 with one of the lowest compensation-to-revenue ratios of the publicly traded investment banks, 42%, according to SNL Financial analysis.
March 27, 2012
BofA Makes Retirement Services Push for MerrillBank of America is rolling out a defined-contribution consulting service for institutions at Merrill Lynch and a 401(k) service for small businesses at Merrill Edge.
March 27, 2012
RBS Talks Sale With Abu Dhabi RoyalsThe Abu Dhabi ruling family is in talks to purchase a stake in the government-owned Royal Bank of Scotland, according to sources close to both sides of the potential deal.
March 26, 2012
Wall St. Bonuses Taking 14% Beatdown, Could’ve Been Much WorseWorkers at Wall Street firms should expect their cash bonuses to fall by 14% this year, after dropping 13% last year, according to an estimate released in March by New York Comptroller Thomas DiNapoli.
March 26, 2012
Another Breakaway Merrill Advisor Heads to HighTowerMike Papedis of HighTowers business development unit says the addition of Charles Holt to the Pagnato-Karp Group shows how compelling the RIA business model is to individual advisors.
March 26, 2012
UBS Streamlines McCann’s Leadership TeamUBS Americas trimmed a layer of management under CEO Robert McCann and increased the duties of some of wealth-management leaders, according to a memo released by McCann on Friday.
March 23, 2012
Morgan Stanley Grabs Two Reps From Merrill, Credit SuisseMorgan Stanley has continued to hire advisors despite broker defections, an executive-search consultant says.
March 22, 2012
Citi Mulls Unloading Smith Barney Stake to MorganA 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.