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.
Judge Imposes Record Fine on Galleon's Rajaratnam
By Marlene Y. SatterJudge Jed S. Rakoff assessed a $98.2 million fine against hedge fund billionaire Raj Rajaratnam of Galleon Group while criticizing the SEC's settlements in insider trading cases
November 04, 2011
Morgan Stanley Adds 3 Advisors From UBS With Nearly $1 BillionMorgan Stanley said Thursday it had recruited three UBS advisors in New Jersey and Georgia with nearly $1 billion in assets and more than $8 million in yearly fees and commissions.
November 04, 2011
Schwab Doubles Number of Breakaway-Broker Prospects at Impact 2011As more wirehouse reps see the terms of their retention packages end, they are seriously exploring their options, Schwab's Tim Oden says.
October 31, 2011
MF Global Bankruptcy Spooks Investors; First U.S. Casualty of Europe’s Debt CrisisMF Global Holdings Ltd., the securities firm run by former New Jersey Governor and Goldman Sachs head Jon Corzine, is seeking bankruptcy protection in what is seen as the first major U.S. casualty of Europe's debt crisis.
October 31, 2011
BofA-Merrill Strikes Back, Snags Credit Suisse, Wells Advisors With $1.5BAfter losing a $1 billion team to Morgan Stanley, Merrill acts, then also hires 27 advisors for Merrill Edge.
October 28, 2011
Barclays Adds 6 Advisors, 2 From BofABarclays Wealth said Friday that it recently hired six advisors, including one from Merrill Lynch and one from BofA-U.S. Trust in New York, Boston, Dallas and Miami.
October 28, 2011
Wirehouses to Lose 8% in Market Share, Average AUM Up 10%: CerulliCerulli reports that wirehouse broker-dealers had 43% of industry assets in 2010, an estimated 40% today and an expected 35% by 2013 representing an 8% decline.
October 27, 2011
Volcker Tells Charlie Rose: The 'Volcker Rule' Still WorksLobbying 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.