UBS Flushes $10 Billion, Gets $11.5-Billion InjectionDec 11, 2007,By John Churchill UBS announced yesterday it would take an additional $10-billion write-down related to sub-prime loan investments this quarter. But it also announced it has received $11.5 billion in capital ... Uncle Sam To The Rescue!Dec 6, 2007,By David A. Geracioti Shortly, Treasury Secretary Paulson and President Bush will announce their plan to freeze sub-prime loan rate “resets.” Is it any wonder why we like to call Democrats and Republicans, “Remocrats” and “Depub... Thain Recruits Colleagues in First Week at MerrillDec 4, 2007,By Christina Mucciolo John Thain wasted no time calling on his friends during his first week on the job as the head of Merrill Lynch. The former NYSE Euronext CEO, Thain was appointed CEO ... Smith Barney: Living In A Chuck-Free WorldDec 1, 2007,Halah Touryalai Smith Barney at a Glance: Total client assets: $1.6 trillion Number of advisors: 14,873 Average annualized revenue per advisor: $768,000 Pretax profit... Edward Jones: Can't Nobody Hold Me DownDec 1, 2007,Halah Touryalai Edward Jones at a Glance Total client assets: $539 billion Number of advisors: 10,136 Average annualized revenue per advisor: $291,229 Pretax profit margin:... UBS: Back At The BottomDec 1, 2007,John Churchill UBS at a Glance: Total client assets (Capital Management Group): $858 billion Number of advisors: 8,175 Average annualized revenue per advisor: $751,000... Office SpaceDec 1, 2007,By Anne Field It was a less than ideal situation. When Jeffrey Keefe left his job as a financial advisor with Ameriprise to start his own Portsmouth, New Hampshire-based... MERRILL-CHOVIA!Dec 1, 2007,By John Churchill The third quarter was tough on all of the major brokerage firms as bets on mortgage derivatives came home to roost. According to an October 26 story in... Wachovia/A.G. Edwards: Marriage Is A Scary ThingDec 1, 2007,John Churchill Wachovia/A.G. Edwards at a Glance Total client assets: $816 billion/$522 billion Number of advisors: 8,100/6,666 Average annualized revenue per advisor:... MORTGAGE MAYHEM SCORECARDDec 1, 2007,Kristen French Wall Street's titans made a terrible mess with their bets on the sub-prime mortgage market, and now they're paying for it dearly. Most of the major U.S.... Morgan Stanley: Cruisin' BabyDec 1, 2007,Halah Touryalai Morgan Stanley at a Glance: Total client assets: $734 billion Number of advisors: 8,341 Average annualized revenue per advisor: $817,000 Pretax profit... Wall Street Takes Your Health Seriously. Seriously.Dec 1, 2007,Halah Touryalai They may not be ready for a market slow down, but many of Wall Street's big-shot firms are ready for, um, a flu pandemic. Late this summer, executives... Enough Is Not EnoughDec 1, 2007,Halah Touryalai A group of Morgan Stanley reps involved in a race-discrimination suit are objecting to a proposed $16-million settlement, saying it's just not enough.... COMINGS & GOINGSDec 1, 2007,Halah Touryalai State Street Global Advisors appointed Thomas Anderson as head of the Strategy and Research Group in its Intermediary Business Group. He will oversee... Art Planning, For Everyone's SakeDec 1, 2007,By John Churchill One would think a client's collection of 50 cars, let alone 50 Corvettes, would be hard for a team of financial advisors and estate planners to ignore.... Quantifying Touchable AssetsDec 1, 2007,David A. Geracioti Editor-In-Chief At an auction in mid-November, a poster for the movie Bride of Frankenstein, starring Boris Karloff, fetched $334,600. That's right a movie poster. Granted... Giving Odd Lots To A Good CauseDec 1, 2007,By Kevin McKinley Financial Advisors may discuss charitable giving with clients for the same reason that most people choose to give in the first place: It's the right thing... Geri PellDec 1, 2007,Kristen French Registered Rep.: What was the scariest moment in your career? Geri Pell: Jumping off a 130-foot cliff on a zip-line at a leadership/change retreat. RR:... The Fight Is OnDec 1, 2007,By Karen Donovan When a client opens a brokerage account, he agrees that he won't sue you, the registered rep, in a court of law. In opening the account, the client agrees... Greg HopperDec 1, 2007,David A. Geracioti Registered Rep. spoke with Greg Hopper about how the liquidity crisis has affected high-yield issues. RR: There has been a flight to safety, and the spreads... Party Like It's 1999Dec 1, 2007,By Stan Luxenberg What are the chances that one of your funds will return 100 percent (or more) next year? Slim extremely slim. Funds rarely double in a 12-month period;... Getting Cozy With CanadiansDec 1, 2007,By Halah Touryalai RBC's job on that front is far from done. The bank is giving Dain a makeover, and making major investments in the firm. In March 2008, Dain Rauscher will... Go TeamDec 1, 2007,By Mindy Diamond Not everyone can be a great hitter, fielder and pitcher. That's why teams work. And not just in the realm of baseball. Over the last several years, there... Advisors Are Pro ChoiceDec 1, 2007,By Christina Mucciolo So far in this young century, the brokerage industry seems to have successfully endured its run down the gauntlet. Let's see, there was that embarrassing... Registered Rep.'s Broker Report CardsDec 1, 2007
Business is looking good for reps: Over the last couple of years, they have become increasingly satisfied with their firms, on average. At least, that's... Merrill Lynch: Trouble In Paradise?Dec 1, 2007,Christina Mucciolo Merrill Lynch at a Glance: Total client assets: $1.8 trillion Number of advisors: 16,610 Average annualized revenue per advisor $794,702 Pretax profit... Morgan Stanley Management Shuffle: Cruz Out, Gorman InNov 30, 2007,By Halah Touryalai Morgan Stanley underwent a major management shakeup yesterday. Effective tomorrow, December 1, James Gorman, president of the firm’s Global Wealth Management Group will take on a co-president role ... Morgan Stanley in the EEOC’s Sights on Age-Discrimination?Nov 29, 2007,By Christina Mucciolo The EEOC is investigating claims made by former Morgan Stanley advisors that the firm discriminated against older workers when it laid off 1,000 financial advisors back in 2005, according to a story in the Associated Press. ... Major Lay Offs for Wall Street? Or Just a Blip on the Radar?Nov 26, 2007,Halah Touryalai When the going gets tough, the tough get … laid off. We’re not sure how hard Wall Street will be hit by pink slips, but one recruitment firm estimates that about 140,000 employees will be let go in the aftermath of the credit crunch ... FPA Elects New PresidentNov 16, 2007,Halah Touryalai The Financial Planning Association elected Richard Salmen as president for 2008, and six new members to its Board of Directors. Salmen is currently serving as senior vice president... Will Thain Emerge As A Backslapping Komansky Type—Albeit A Fit Version?Nov 16, 2007,By David A. Geracioti Thain realizes that you brokers are important. While O'Neal was criticized as being too aloof, Thain tells the FT today that he understands that this is a “people business,” and appreciates the importance of the retail part of Merrill’s business. Alas, he doesn't play golf.... NYSE’s John Thain New Merrill CEONov 14, 2007,By John Churchill According to reports in the online versions of the New York Post and The Wall Street Journal, NYSE Euronext CEO John Thain has accepted the top spot at Merrill Lynch... Fink offered O’Neal’s postNov 5, 2007,By Christina Mucciolo Less than a week after Stan O’Neal retired as CEO and Chairman of Merrill Lynch, sources in the know say the firm’s Board of Directors has offered the position to BlackRock’s Chairman and founder Larry Fink... Questions Surround Citigroup, Smith Barney SolidNov 5, 2007,By John Churchill Another one bites the dust. Citigroup’s Charles Prince resigned Sunday night in the aftermath of Citi’s horrendous third-quarter earnings report ... Wish List: Financial MakeoverNov 1, 2007,Kristen French A regal room, the perfect suit, a six-pack or an unassailable nest egg? Lucky for you, most people want the last thing on that list the most. At least,... |
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