“While long term we can’t be sure how this will play out, we want to commit to you that there will not be a reduction in force at Morgan Stanley in 2020,” James Gorman e-mails company’s 60,000-plus employees.
Wirehouse says it will compensate clients hurt by four-and-a-half hour glitch Wednesday that prevented them from seeing accounts and required workarounds for trades.
Customers who claim losses because of inability to trade when markets soared earlier this month are offered credits of at least $75—if they release it from lawsuits or other further claims for alleged losses.
Bank of America’s Merrill Edge was the second brokerage firm to suffer client account access issues on Wednesday.
Brokers working from home offices directed to copy trading link into their web browser while system is down.
The record pace of RIA mergers and acquisitions is likely to slow as the pandemic inhibits processes and valuations, bankers say.
Brokers say clients are generally not panicking, but having to work from home amid wildly turbulent markets and reports of infected neighbors and colleagues is testing everyone.
Independent broker-dealer held national meeting at conference center attended by a person who contracted the coronavirus.
J.P. Morgan Securities trio in New York producing $9.5 million, $4.5 million Wells advisor in Pennsylvania and Merrill veteran in DC jumped last week amid market tumult.
Ben Fujihara, former manager of large Morgan Stanley complex in Dallas, agreed to a 30-day regulatory suspension and $5,000 fine for unapproved outside activities.