Mary Schroeder | May 17
To bring alternative investments to a wider investor base, Goldman Sachs Asset Management has launched the Goldman Sachs Multi-Manager Alternatives Funds.
Curtis Eichelberger | May 15
Thomas Welch knows there’s a better chance he will be fired than retire. So he spent his vacation interning at Merrill Lynch Wealth Management to prepare for a second career to sustain him for the next 40 years.
Zeke Faux | May 14
Breaking into the brokerage business is getting tougher as declining fees make small accounts less profitable and government restrictions on unsolicited calls make phone sales taboo. That’s leaving big firms struggling to replace a retiring generation of advisors.
Erin Kello | May 14
Goldman Sachs has filed to launch the Multi Asset Real Return Fund. The fund seeks real return by investing in inflation-sensitive assets.
Michael J. Moore | May 13
Goldman Sachs has been “deficient” in linking compensation to company performance, Glass Lewis said in a report, which also opposed the re-election of compensation committee Chairman James A. Johnson. ISS said in a May 8 report that shareholders should vote for Johnson at the New York-based bank’s May 23 annual meeting.
Michael J. Moore | May 08
Morgan Stanley is expanding the types of debt it buys as deposits increase with the purchase of its brokerage venture and interest rates remain near record lows.
Lorie Konish | May 07
The new hires join the firm in Jackson, Tenn., and Mount Kisco, N.Y.
David M. Levitt & Matthew Monks | May 06
UBS plans to move out of almost three-quarters of the space it rents at Manhattan’s 299 Park Ave. as it seeks to reduce real estate costs, but the company intends to keep some wealth-management operations in place while moving its investment-banking department to another location.
Elena Logutenkova | May 06
UBS AG is always looking at all shareholder suggestions, Chief Executive Officer Sergio Ermotti said, after investor Knight Vinke Asset Management LLC called for a spinoff of the lender’s investment bank.
Mason Braswell | May 03
UBS promotes regional director John Mathews to help capture growth in the ultrahigh-net-worth market.
Ambereen Choudhury | May 03
UBS AG should consider splitting its investment bank from the wealth management and Swiss banking businesses, shareholder Knight Vinke Asset Management LLC said.
Lorie Konish | May 01
A three-year plan helped the renowned private bank merge with a rival and find its way out of the financial crisis. Now, it's prepared to leverage its resources across Bank of America.
Mason Braswell | May 01
The combination will create one of the largest regional brokerages on the West coast.
Mason Braswell | Apr 30
The firm has reorganized its branch leadership with two promotions and a new hire from Morgan Stanley.
Mason Braswell | Apr 30
UBS Wealth Management Americas posted a record profit in the first quarter as it recorded its strongest net new money inflows and cut expenses.
Elena Logutenkova | Apr 30
UBS AG reported first-quarter earnings that beat analyst estimates on higher revenues at the investment bank and in wealth management.
Mason Braswell | Apr 29
Ameriprise tapped the four wirehouses and LPL in its latest round of recruiting.
Mason Braswell | Apr 29
The firm raised its annual compensation for top executives citing strong company and wealth management performance.
Lorie Konish | Apr 26
Merrill Lynch’s ultra high net worth business, the Private Banking and Investment Group, has snapped up two Morgan Stanley Private Wealth Management advisors in Houston, Texas.
Lorie Konish | Apr 26
UBS executive Robert Mulholland has a message for professionals in the financial services industry: We are the adults in the room.
Mason Braswell | Apr 25
Clients are mad as hell and they're not going to take it anymore … unless the industry makes some changes, Stifel’s top executive told a major industry conference on Thursday.
Mason Braswell | Apr 25
Financial services firms and advisors are relying on new technology and enhanced training to to take a more holistic financial planning approach with clients.
Lorie Konish | Apr 25
“We got drunk with the performance of the bull market,” Thiel told the audience of wealth management professionals at the SIFMA Private Client conference on Thursday. “But the world changed and our dialogue, our approach, didn’t. It needs to. We need to talk about what our clients goals, concerns and priorities are and map absolute performance to that objective.”
Teck Lim | Apr 25
Morgan Stanley has hired three advisors from Deutsche Bank, Merrill Lynch, and Wells Fargo who combined for more than $3.2 million in production.
Giles Broom | Apr 25
Credit Suisse Group AG said it’s increasing the proportion of assets under management from super- rich clients, helping to boost profit margins at Switzerland’s second-largest wealth business.
Teck Lim | Apr 25
J.P. Morgan Securities announced Wednesday it has added eight advisors to its offices in Boston, New York City, and Florham Park, N.J.
Mason Braswell | Apr 24
Revenue and assets increased year-over-year as the firm began to streamline operations after the Morgan Keegan integration in February.
Mason Braswell | Apr 24
An arbitration panel has ordered Wells Fargo to pay Stifel $800,000 in the latest dispute over alleged raiding of former A.G. Edwards advisors.
Margarida Correia | Apr 24
The unit added about $3 billion in fee-based assets over the past few years, with sales going up about 74%.
Maria Aspan | Apr 24
Wells Fargo now gets a third of its fee revenue from its relatively small investment-management and brokerage businesses. Executive David Carroll explains how Wells is getting more business from its wealthy — but not too wealthy — customers and is seeking acquisitions in this market.
