Small-office team of 11 advisors in Green Bay were generating $12 million in annual revenue.
Chairman’s Club broker in Minneapolis who was dismissed by RBC over non-sales-related concerns after 28 years with the firm joined Wells late last year.
Ex-RBC broker alleged she was treated like a client associate and fired for reporting another advisor’s conduct, but arbitrators said they couldn’t consider her claims.
The bank’s capital-markets division had its worst quarter in two years for profit and revenue, with lower investment-banking fees and higher provisions for soured corporate loans causing a 12% drop in earnings for the business.
Brokers say order-entry system was down until mid-afternoon, requiring calls to firm trading desk and paper-ticketing.