John Thain, former CEO of Merrill Lynch, who commandeered the brokerage firm’s sale to Bank of America and then was axed by BofA CEO Ken Lewis in January, resurfaced to redeem his reputation. According to today’s NY Post, in Thain&...
Bob McCann, chief executive of UBS’ Wealth Management Americas, set out some ambitious targets today for the brokerage’s unit—including turning around client asset flows and boosting capital. He also reiterated his profitability...
Asian stocks have soared this year. Now the average Asian fund sells for a price-earnings multiple of 13, compared to a figure of 10 for European funds, according to Morningstar. Are the highflyers due to crash? Perhaps. But the booming markets of...
Please join me, David Geracioti, editor of Registered Rep. magazine, for a webinar with Barry Ritholtz, the well-known market commentator and editor of The Big Picture. We will discuss his thoughts on the economy and markets and what he thinks...
Yesterday, The New York Post reported that Merrill Lynch advisors are annoyed by Bank of America’s efforts to get them to offer their clients BoA checking accounts, mortgages and other retail-banking products. Today, the Wall Street Journal...
It was inevitable. Some of Merrill Lynch’s 15,000 financial advisors are feeling pressure to sell parent company Bank of America’s checking and savings account products—and they’re not happy about it, say sources.
While the markets may be buoyant, this is a time for caution. Some funds now seem richly valued as suggested by dividend yields and price-earnings ratios. Investors should be wary, underweighting the pricey funds described below—or staying...
By now, we are all used to some of the backdoor deals and unprincipled compromises that too often masquerade as politics—so, to that extent, we have become a bit numb to the nonsense. However, I think that Capitol Hill took its legislative...
