Americans continue to overload their 401(k) accounts with company stock. Inside companies like Procter & Gamble, the concentration climbs to dangerous levels of 90% and higher, according to the Institute of Management...
Broker response to James Gorman's appointment as president of the Merrill Lynch U.S. Private Client Group in September ranges from positively glowing to downright stinging. Some question how well Gorman understands...
The terrorist attacks stunned investors from Wall Street to Main Street. In response, many are maintaining their investment resolve. But some, despite reassurances, pleading and even a few threats from their brokers...
The integration of First Union Securities (FUS) and IJL Wachovia is proceeding on schedule, but executives aren't sure what they'll call the new brokerage company. In April, officials said the combined brokerage...
Online brokerage firm TD Waterhouse has formed an alliance with Ford Motor Company to offer online financial services to Ford’s 146,000 employees in the United States, the brokerage announced last week...
Merrill Lynch reported this morning that its individually managed account business survived the events of Sept. 11 well, without lots of clients bailing out. Redemption rates were about three-quarters of one percent...
One day after The Wall Street Journal reported that Merrill Lynch was looking to slash its spending in its retail unit by $300 million to $400 million a year, President Stan O’Neal took the opportunity today to...
Who owns the client ... the brokerage firm or the broker? Merrill Lynch retail chief James Gorman says the numbers answer that question quite clearly. “The experience is that when brokers leave they take 65% of...
Another top executive at Merrill Lynch has stepped down. The company announced today that Win Smith Jr. relinquished his title as president of Merrill Lynch’s International Private Client Group, the division...
Courts have certified three class-action lawsuits challenging Citigroup's Capital Accumulation Plan (CAP). In August, Los Angeles Superior Court Judge Aurelio Munoz granted class-action status to a lawsuit filed...
