As long as Philip Purcell was running things, it was clear that Morgan Stanley's struggling retail brokerage would remain intact. Even as he fought off the so-called Group of Eight dissident shareholders who demanded...
After several months of deliberations and input from all 18,000 of its employees, the soon-to-be-spun-off American Express Financial Advisors selected as its new name (drum roll please) Ameriprise. Apparently that's...
The last few years apparently have been mentally grueling ones for the regulators as well. After months of trying to fill the position, the SEC has hired a psychologist to work on the commission's flagging morale...
When Merrill Lynch announced that it would replace James Gorman, head of the firm's brokerage group, with his boss, Robert McCann, tongues wagged: Was Gorman simply moved into a sinecure? Put out to pasture? Or was he...
John Mack, the rumored favorite of Morgan Stanley's board for the CEO slot, could be a blessing for the firm's retail brokers if he gets the job. And that's looking more and more likely, with news reports citing...
The recently announced asset swap between Citigroup and Legg Mason could be a sign that the financial supermarket of yore is on its way out, to wit: the separation of asset management and distribution. It was once the...
Online brokerage Ameritrade announced Wednesday it would acquire rival TD Waterhouse rather than accept a takeover offer from E*Trade. Ameritrade said the move would allow it to diversify away from the struggling...
After months of fighting for Morgan Stanley CEO Philip Purcell’s resignation, the so-called Group of Eight dissident shareholders finally got what they wanted: Purcell announced Monday morning that he was...
Merrill Lynch is hungry to buy companies. James Gorman—recently appointed to the new position of head of Corporate Acquisitions, Strategy and Research—said at a press conference Thursday that the firm...
When Merrill Lynch announced that it would replace James Gorman, head of the firm’s brokerage group, with his boss, Robert McCann, tongues wagged: Was Gorman simply moved into a sinecure, put out to pasture? Or...
