September 19, 2020
This Week’s Top Stories: RayJay Layoffs, Morgan Stanley Lures Big Merrill Teams in NY and FL, and More
- 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.
- 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.
- 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.
- 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.
- Morgan Stanley Picks Off Merrill Teams in NYC, Florida Managing $4.8 Billion
Morgan Stanley on Friday nabbed Merrill teams producing more than $10 million in New York and Fort Lauderdale.