Firm has lost a net 429 retail brokers in the last two quarters while money in Wells proprietary funds is off 12% from a year ago.
Arbitrators call Wells “disingenuous” in arguing that an amendment extending a forgivable loan agreement benefited the broker and not the firm.
Ned Kennedy to run new HNW branch for Wells Fargo in Chicago; Jeremy Geller to lead strategy at JPM for lower-tier private bankers.
John Bodovitz, “separated” in December over concerns about his trading, joins Western International.
Finra bans Cincinnati broker for about $730 worth of forged garage validations.
One stole $8,700 from a charity account, another sold $176,000 of clients’ stocks to pay her mortgage and decorate a home.
Arbitration panel upholds claim that regional firm’s hiring of six brokers in a new market violated regulator’s rules of conduct.
Recruiters and managers at the firm say hiring dropped off as banking scandal unfolded.
Also agrees to recruit more African American brokers, establish an expense-account pool for them and seek more minority candidates for management positions.