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.
UBS Loses More From Japan Equity Desk
By Marlene Y. SatterThe Swiss bank UBS has lost a total of five people from its Japan equity desk, a week after the research team had been ranked second in Japan.
March 29, 2012
Compensation Spending Down at Goldman, Up at Smaller FirmsGoldman 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 29, 2012
Wirehouses Lose Top Spot in HNW Market for First TimeWirehouse firms are getting hammered from every direction in the competition to attract high-net-worth investors, a report from the financial services industry research firm Cerulli says.
March 29, 2012
Cerulli: Almost a Third of High Net Worth Providers Have Increased FeesThe report shows that 32.1% of all HNW providers increased their fees during the last three years. Four in 10 of this group includes registered investment advisors and multi-family offices. And 23.1% comprise private client groups and bank trusts.
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.