Several former Salomon Smith Barney brokers seeking the authorization to start a national class action suit against the firm’s Capital Accumulation Plan (CAP) had their request rejected by a federal judge.
For the first time in its 115-year history, A.G. Edwards is cutting its workforce, but the St. Louis-based company says its broker force of around 7,300 will not be included in the reduction. The firm says it will...
Morgan Stanley has begun charging clients for basic brokerage services that were previously free, according to brokers from the firm. The firm also raised fees on basic brokerage services, according to the reps. The...
Merrill Lynch’s Stanley O’Neal and David Komansky were “limited” to $1 million cash bonuses in 2001, but the top two company executives received additional company stock to make up the...
Morgan Stanley is in the process of developing a new global branding campaign, yet the firm will not reveal the full details of the plan. The new branding campaign, which is being handled by the Chicago-based firm of...
Steven Scheid, the head of the retail at Charles Schwab, wanted more autonomy in leading the firm’s investing division. But he couldn’t get it, so he resigned this week, leaving CEO David Pottruck to run...
