News
Morgan Stanley Narrows Recruiting-Attrition Gap, Hires $5 Mln UBS Duo
Morgan Stanley’s net recruiting number is again an “important metric” and will move “much closer to zero” this year versus its historical negatives, CFO says.
Raymond James Advisors, Customers Lose Account Data Access
Brokers on Thursday have been delayed or are unable to view client contact data and holdings through their workstations due to vendor hardware issues.
RayJay Hires $1.7 Billion-Asset Broker Ousted by Morgan Stanley over Online Post
Chicago broker dismissed from Morgan Stanley’s private client unit after he was pictured in an inappropriate social media posting lands at Raymond James’ high-net worth Alex. Brown unit.
Judge Upholds Award of Attorneys’ Fees to Brokers Who Left CS for UBS
Credit Suisse loses attempt to vacate arbitration decision requiring it to pay more than $400,000 of former brokers’ lawyer fees.
Stifel Lands $1.75-Million Husband-and-Wife UBS Team in New Mexico
Separately, UBS hired a novice broker to supplement a big Boston team and nabbed a bank-based broker in Ohio.
Raymond James Lays Off More Than 500 Employees
Florida-based firm says workforce reduction of close to 4% primarily affects corporate staff positions, and responds to economic conditions and rate cuts that wiped out half its earnings.
Goldman Appoints Broker to Manage Seattle Office
Lifetime Goldman advisor in Dallas shifts to manage and expand the powerful investment bank’s wealth businesses in the Pacific Northwest.
Citigroup to Resume Job Cuts After Pausing for Pandemic
Citigroup Inc. will resume job cuts starting this week, joining rivals such as Wells Fargo & Co. in ending an earlier pledge to pause staff reductions during the coronavirus pandemic.
Morgan Stanley Lands $8-Million RBC Wealth Team in New York
Nationally ranked advisor Ira Mark, one of the biggest producers in RBC Wealth’s New York City complex, returned to Morgan Stanley with five associates.
First Republic Hires $2.5 Million Merrill Producer in California
San Francisco-based bank recruits another broker from the firm that once owned it.
UBS, Credit Suisse Explore Merger
The chairmen of UBS Group AG and Credit Suisse Group AG are exploring a potential merger to create one of Europe’s largest banks, Inside Paradeplatz reported, citing unidentified people inside the two lenders.
