Morgan Stanley reported a net loss of $177 million in its first quarter earnings, released today. But unlike many of its peers, the firm didn’t appear to use any accounting tricks to massage the numbers.
According to a source familiar with the details, the 8,700 jobs UBS plans to cut by the end of 2010—for forecasted cost savings of roughly $3.5 billion—will include 2,000 in the Wealth Management division...
Challenges to conventional investment wisdom abound these days. Now Jim Rogers says diversification is garbage—stick with what you know, pick the right basket, put all your eggs in that baby and let it ride.
The United States’ ongoing hunt for tax cheats will be putting a crimp in some clients’ quarterly portfolio reviews. UBS financial advisors who have clients outside of the country where they do business...
Just over six months after he was named the new leader of Citi Global Wealth Management, Michael Corbat is bouncing to another post. Today, the firm named Corbat CEO of Citi Holdings.
Bear markets have a way of breaking investors’ spirits—even their ability to rationally analyze capital markets. Take for example the period from about 1965 to 1982: The Dow Jones Industrial Average was...
An alleged Ponzi scheme conducted and contained among a few top executives at The Stanford Financial Group was not in the plans for the 200-plus financial advisors who moved their careers and their clients’...
In an effort to catch future Madoffs before they strike, the SEC would like to ask your clients a few questions. Over-the-top government meddling or simply a good idea?
Today, the SEC charged two former top-ranking New York political figures with orchestrating a multi-million dollar fraudulent “kick back” scheme. The SEC complaint names David Loglisci, the former New York...
