Morgan Stanley is streamlining its Global Wealth Management unit, reducing its four U.S. divisions (Northeast, South, Central, West) to two (South/West and Northeast/Central), according to an internal memo sent last week by Andy Saperstein, head...
A spokesperson for UBS denied rumors, aired by CNBC last week, that the Swiss firm is contemplating a sale of its U.S. wealth-management business in order to raise capital. UBS has written-down billions of dollars related to mortgage-securities...
Bear Stearns reached a deal Sunday to sell itself to J.P. Morgan—at a fire-sale price. J.P. Morgan will pay $2 a share for the teetering bank, less than one-tenth of the price that its shares were trading for on Friday. That day, Bear&rsquo...
By now, everyone on Wall Street knows Bear Stearns is in deep—well, you know what. But where does the firm’s state of emergency leave its 500 or so advisors? That depends on whom you ask.
As former New York Governor Eliot Spitzer learned this week—after being ousted for clandestine trysts with expensive call girls—prostitution is illegal. Spitzer was not the first (nor the last) high-profile person to enjoy expensive...
Eliot Spitzer, who’s dramatic demise over the past few days has been covered backwards and forwards by every media outlet in the country, is not getting a lot of sympathy from Wall Street reps or executives. Many of them are celebrating the...
Providence -- "I belong to all the right organizations in my community. I'm in the Rotary Club, the Chamber of Commerce, the best country clubs, social groups and charitable organizations. Why am I not getting the results I want: more affluent...
WealthTrust announced today that Mark Rogozinski has joined the company as Senior Vice President-Corporate Development. In this role, he will be responsible for acquisition development and external strategic relationships. He will be based in New...
Citigroup’s reorganization of its private bank and Global Wealth Management division, announced Tuesday, will absolutely not force advisors into silos based on client wealth, said Sallie Krawcheck, Chairman and CEO of Citigroup's Global...