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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.
Morgan Stanley Cuts CEO Gorman's Pay 10%
By Steve DicksonHis 2022 package includes a salary of $1.5 million, $7.5 million cash bonus and $22.5 million in equity-linked awards to be paid in shares.
January 17, 2023
Morgan Stanley Beats Estimates as Wealth Management Hits RecordThe wealth and asset management unit produces over half of its revenue, with year-end assets standing at $4.19 trillion.
January 17, 2023
UBS Doesn't Plan to Buy Credit Suisse or U.S. FirmsThe firm needs to get its U.S. wealth business "up and running and improve ... margins," says Chairman Colm Kelleher.
January 13, 2023
Top 5 Trends at Merrill Wealth Management in Q4The unit's president, Andy Sieg, gave an update on its new training, mobile work station and advisor matchmaking programs.
January 13, 2023
JPMorgan, BofA Show Gains in Headcount as Wells Fargo's DropsDespite layoffs across the finance industry, there were no signs of staffing pullbacks at two large banks.
January 12, 2023
JPMorgan Says Ex-Advisor Poached 32 Clients for Morgan StanleyThe bank accuses Joseph Michael of persuading households with assets of $28 million to start moving their accounts.
January 09, 2023
Morgan Stanley COO to DepartJon Pruzan, once seen as a potential replacement for CEO James Gorman, is leaving after 28 years with the firm.
January 09, 2023
Stocks Risk 22% Slump: Morgan StanleyStrategist Michael Wilson says the S&P 500 could bottom at around 3,000 points due to recession-related risks.