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JP Morgan’s chief may have asked asked rival firms to back off from hiring Bear Stearns advisors, but that doesn’t mean competitors have stopped offering recruiting deals to anxious Bear reps.
Morgan Stanley reported better-than-expected first-quarter earnings today, at least temporarily easing investor nerves. Still, overall revenues and earnings were well below last year’s levels: Net revenue was $8.3 billion for the quarter, a...
Every state has a wrongful death act. Probate practitioners are probably familiar with their state’s version. Almost everywhere, though, the decedent’s personal representative must bring a wrongful death and survival action. And the general rule...
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...