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. ... Top Independent Advisor Under InvestigationNov 27, 2007,By Christina Mucciolo Frank Bluestein, an independent advisor formerly of Maximum Financial in Waterford, Mich., had the distinction of being number four on our “America’s Top 100 Independent Advisors” list (click here to see the list) with $1 billion in assets under management. Alas, Bluestein is currently being investigated by Michigan state securities regulators, and, possibly, the SEC. ... The Death Of A Wall Street Salesman—The Rise Of A Wall Street HereticNov 27, 2007
A friend of ours brings this interesting piece by former-MTV VJ Tabitha Soren's husband (hint: he wrote a much-loved book about the trading-floor culture at Goldman Sachs) ... 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 ... SEC Fines At Four-Year LowNov 21, 2007,By Halah Touryalai After three years of raking in multi-billions in fines, the Securities and Exchange Commission collected just $1.6 billion in penalties in the year ending September 30.... Elderly Care Double What You Think, Study SaysNov 19, 2007,By John Churchill Past estimates of out-of-pocket costs related to caring for an aging or ailing parent or spouse underestimate reality, according to a study released today... 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.... Merrill Stops Squirming, Reps Have Mixed ReviewsNov 15, 2007,By Christina Mucciolo Unless you live in a cave, you know that Merrill Lynch hired NYSE Euronext’s CEO, John Thain. The appointment was announced yesterday. ... 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... Securities Lobby To Members: We’ve Done Good In 2007, But We Need To Whip Washington Into ShapeNov 8, 2007
The securities industry’s biggest lobby held its annual meeting today, and, as usual, congratulated itself on the great job the industry has been doing in raising capital for business... 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 ... Market Low, Cayne HighNov 2, 2007,By Halah Touryalai Deal with the mortgage crisis. Minimize the pain of a hedge fund implosion. Play a game of bridge. Smoke a J. That may be a day in the life of Bear Stearns Chief Executive, Jimmy Cayne.... Subprime Mess: Merrill and Goldman Reportedly Under Eye of SECNov 1, 2007,By John Churchill The subprime debt market blowup has had very different effects on Wall Street firms Goldman Sachs and Merrill Lynch. Goldman earnings shined in the third quarter, and Merrill earnings stunk. But according to news reports... UBS Earnings BombOct 31, 2007,By John Churchill Swiss banking giant UBS joined Merrill Lynch at the bottom of the credit related write-down pile with the release of its earnings Tuesday... A Nice Retirement? Could Have Been BetterOct 30, 2007,By David Geracioti Merrill Lynch won’t be paying Stan O’Neal a bonus or severance package, the company announced in it’s Form 8-K filed today... Impact This! Schwabbies Descend Upon VegasOct 30, 2007,By Halah Touryalai They didn't get to "Talk to Chuck," but attendees of the 2007 Schwab IMPACT conference did get a chance to talk to Walt Bettinger, president and chief operating officer, as well as Charles Goldman... O’Neal Gone: Reps Apathetic, Analysts Say Get Back To BasicsOct 30, 2007,By Christina Mucciolo Stan O’Neal was allowed to retire it was announced today, after 21 years at the company, the last five as CEO. Alberto Cribiore, a member of the board and founder of Brera... O’Neal Rumored To Be On the Chopping BlockOct 26, 2007,By David Geracioti Apparently Merrill Lynch has been gorging itself on risk. And, it may cost CEO Stan O’Neal his job, according to Charles Gasparino on CNBC’s website today... Bonus Time on Wall Street is Bonus Time For NYC RealtorsOct 25, 2007,By Christina Mucciolo Wall Street bonuses and their effects on the sale of luxury apartments in Manhattan? Said to be like the moon and the tide. The Wall Street bonus season reached record heights... Arbitration Works, Says SIFMA; No It Doesn’t, Says PIABAOct 24, 2007,By Karen Donovan The Securities Industry and Financial Markets Association released a “white paper” today about how well the mandatory arbitration system works... Ameriprise Branches Face Potential Fines for Fake Financial PlansOct 24, 2007,By Halah Touryalai Ameriprise Financial Services has long been accused of possessing a culture that’s more concerned with sales commissions than compliance. The latest allegations against the company from the New Hampshire Bureau of Securities Regulation suggest that may still be very much the case, at least in that state.... Merrill Earnings Ugly, But Brokerage Is The Sweet SpotOct 24, 2007,By John Churchill Stan O’Neal opened Merrill Lynch’s earnings call by not beating around the bush: The firm had a net loss of $2.3 billion, due largely in part from $7.9 billion in write-downs related to exposure to sub-prime mortgages and collateralized debt obligations (CDOs).... |
Current Issue Asset-Gathering MachinesBY HALAH TOURYALAI In the first half of 2008, Camden Capital Management, a fee-only RIA in El Segundo, Calif., added $100 million to its growing pot of client assets... advertisement
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