John Thain, former CEO of Merrill Lynch and the man who engineered the sales of the storied Wall Street firm to Bank of America in September, is leaving the combined firm "immediately," according to a report from CNBC.

Citigroup, which reported a whopping $8.29 billion fourth-quarter loss on Friday, should take a harder look at its balance sheet.

Everybody knows that Citigroup announced yesterday it was putting itself out of its misery.

It wasn't my job, man.

Marcus Schrenker is no Bernie Madoff, that's true.

Mary L. Schapiro heads to Capitol Hill tomorrow morning for the hearing on her Senate confirmation as President-elect Barack Obama's nominee to chair the U.S. Securities and Exchange Commission.

It’s official: Morgan Stanley will pay $2.7 billion to acquire a 51 percent stake in Smith Barney, Morgan Stanley and Citigroup management told Registered Rep. this afternoon. The agreement was signed today. The deal will close in about six...

Despite a $45 billion capital injection from the government in 2008, Citi is in dire enough need of capital that it is planning to spin off its retail brokerage operation, Smith Barney, according to reports, in a joint venture with cross-town...

So much for Citi CEO Vikram Pandit’s endorsement of the universal banking model.

Firms and advisors facing disputes in arbitration will have a tougher time getting the case dismissed thanks to a new dispute resolution rule, FINRA announced today.