Brokers at UBS PaineWebber received a double hit of bad news this week in this tough time for brokerages. Not only were they informed that the bonuses they receive for assets under control were being cut, but expense accounts are being trimmed as...
The Securities and Exchange Commission, an institution under fire, and with a large job ahead, may finally have a new chairman. A month since embattled former chairman Harvey Pitt resigned, President Bush announced plans to nominate William...
Executives from Merrill Lynch’s global diversity group say the firm has to do a better job in retaining and boosting the performance of women and minority financial advisors.
The landmark Sarbanes-Oxley Act–passed this summer in the wake of the deluge of Enron and Worldcom-like scandals–was hurriedly put together, and much of the corporate world was left reeling, wondering what was now...
Merrill Lynch, the nation’s largest brokerage firm, confirmed yesterday that the firm would be merging its U.S. and global private client operations. The firm also said that Kelly Martin, who has been head of the global private...
Jamie Price, who had been president of Prudential Securities’ private client group, has left the firm and is moving to UBS PaineWebber, where he will report to Mark Sutton, head of PaineWebber’s private client group. Pru is replacing...
Regulators today announced that they have fined five brokerage firms a combined $8.25 million for failing to adhere to record-keeping requirements. The fines were levied by the SEC and self-regulatory bodies NYSE and NASD.
Sandy Weill, the chairman of Salomon Smith Barney’s parent Citigroup, has informed brokers and other employees that plans to eliminate the Salomon name, a Wall Street
hallmark for nearly a century, have been postponed, according to sources.
