Gold's Record High: BFDJan 14, 2008,By Brad Zigler Gold hit record highs Friday, as February COMEX futures punched through $900 intraday before finally settling near $898. Gold bugs swarmed around the media outlets making sure they got quoted as the first—the very first—to call this takeout of the old record price, set in 1980... Merrill’s Losses Continue To SurpriseJan 11, 2008,By John Churchill Oops, looks like Merrill underestimated its quarterly loss—again. After an $8.4 billion write-down in the third quarter that resulted in $2.3 billion in losses, the fourth quarter is likely to be far worse.... Smith Barney Snags Three Advisors From RivalsJan 9, 2008,By Halah Touryalai Smith Barney has started off the new year right with a recruiting victory. The firm recently hired three Merrill Lynch reps and one UBS advisor.... Desperately Seeking Advisors For RR’s 28th Annual Outstanding Advisor AwardsJan 9, 2008
We, the editors of Registered Rep. magazine, are officially opening our annual hunt for the best in the business. That’s right, we’re asking for nominations for the Outstanding Advisor Awards ... If Candidates Were StocksJan 7, 2008,by Christina Mucciolo If politicians were traded daily like a stock, which company would best describe them? That’s one perspective Slate, an online magazine, has brought to its coverage of the 2008 presidential campaign. ... Merrill Slashes Trading JobsJan 4, 2008,By Christina Mucciolo Merrill Lynch began a round of layoffs this morning: The dismissals reportedly kicked off at 7 a.m. on the trading floor, according to Wall Street news blog Dealbreaker... SEC’s RAND Study ReleasedJan 3, 2008,By Christina Mucciolo The SEC released the results of the RAND study today, which examined two issues: how broker/dealers and investment advisors market and provide products and services to investors, and how investors understand the differences between investment advisors and broker/dealers. ... Morningstar’s “Best Of 2007”: A Dubious Distinction?Jan 3, 2008,By John Churchill Financial research firm Morningstar announced today the three winners chosen as “Mutual Fund Managers of the Year.” But with many studies showing one year’s hot managers... 2008: A Comeback Year For Wall Street? Probably Not.Jan 2, 2008,By Halah Touryalai Last year’s markets were not very kind to brokers and their firms, which both took major hits in the fourth quarter thanks to the credit fiasco. For those betting on 2008 ... Morgan Stanley’s Earnings Disaster: This Could Leave A MarkDec 19, 2007,By John Churchill Morgan Stanley CEO John Mack opened the Morgan Stanley earnings call today by saying the firm’s quarterly results were “embarrassing.” Quite. But, he quickly pointed out that—excluding mortgage-related businesses... What Credit Crunch? Goldman Posts Weak-ish 4Q Results But Strong Fiscal 2007 PerformanceDec 18, 2007,By Halah Touryalai Goldman Sachs closed out the year on a high note. Despite the credit crisis that has hurt many of its rivals on Wall Street, net income at Goldman increased 2 percent in the fourth quarter ... Ellyn McColgan, Late Of Fido, Joins Morgan StanleyDec 18, 2007,By John Churchill Ellyn McColgan, once seen as a possible successor to Ned Johnson as CEO at Fidelity Investments, has been picked to take the helm of Morgan Stanley’s Global Wealth Management Group... Advisors Should Learn From Student Loan InvestigationDec 17, 2007,By John Churchill A black social worker is suing Columbia University and Citibank for allegedly colluding to charge him and his peers exorbitant interest rates on their student loans.... Dykstra Pitches Annuities To Rich AthletesDec 12, 2007,By John Churchill Lenny Dykstra, aka “Nails” to his teammates on the 1986 World Series Champion New York Mets, wants professional athletes to invest with him, according to a story in the New York Post. ... Pandit takes Prince’s PostDec 11, 2007,By Christina Mucciolo Citigroup shuffled its brass today and named Vikram Pandit the new CEO and a member of the Board of Directors. ... 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... Spitzer Returns! New York A.G. Probes Wall Street On Mortgage-Backed SecuritiesDec 5, 2007,By Halah Touryalai The punches keep on coming for some of Wall Street’s biggest firms. A handful of firms were sent subpoenas late this summer courtesy of New York State Attorney General Andrew Cuomo... 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 ... “Top” Independent Advisor Falls From Grace?Dec 3, 2007,By Christina Mucciolo Frank Julian Bluestein may have flipped a nut. Bluestein was ranked number four on our “America’s Top 100 Independent Advisors” list, published in August of this year... 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 ... |
Current Issue Whole Lotta LoveBy Christina Mucciolo These days the wealth management divisions are the shining stars of wirehouse firms. advertisement
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