May 23, 2020
This Week’s Top: Rockefeller Nabs RayJay Texas Broker, First Republic Hires Morgan Stanley Team in NYC, and More
- Rockefeller Lands $4.5-Mln Alex. Brown Broker in Texas
The expanding New York firm led by former wirehouse executive Greg Fleming nabs its first Houston advisor and also on Friday hired a $1.5-million broker in Atlanta from Morgan Stanley.
- First Republic Lures $7-Million Morgan Stanley Private Wealth Team in NYC
Four advisors who were overseeing $1.3 billion left the wirehouse on Friday, ahead of the long holiday weekend.
- JPMorgan Revamps Management of Bank-Branch Brokers
The firm is realigning divisional and regional leadership as it separates Chase’s wealth management and brokerage operations from its consumer banking business.
- Ex-Merrill Broker Suspended over Undisclosed “Esports” Gaming Business
Finra fined and suspended a Michigan broker for 21-months for failing to notify the firm he was running a video gaming “esports” franchise along with a Merrill client.
- Wells Fargo Discharges California Advisor over Personal Cash Withdrawals
A best-in-state broker who Forbes says managed $350 million at a bank branch allegedly withdrew money from his bank account on six days in December to avoid anti-money laundering reporting requirements, Wells tells regulators.