News

On a nationwide conference call this morning with branch managers and regional directors, Robert McCann, president of Merrill’s global private client group, told them that they will not be getting anything in the way of retention. He also...

Morgan Stanley is having trouble convincing the market it’s a good investment.

As part of a larger cost-cutting effort, Smith Barney is consolidating some of its branch offices and laying off a number of its branch managers.

Bank of America settled with the SEC and state regulators today over allegations of fraud in connection with the sale of auction-rate securities, agreeing to buy them back from its retail customers at par.

It was November 1929—just one month after the now infamous Stock Market Crash of 1929. And Trusts & Estates magazine was there.

After a weekend of court battles, Citigroup and Wells Fargo are still battling over who has the right to purchase Wachovia.

There are some very happy Wachovia shareholders, and advisors, out there this morning. Wells Fargo agreed to acquire all of Wachovia’s operations for $15.4 billion, or about $7 a share, in an all stock deal, the companies announced on Friday...

Apparently, not everyone is pleased by the Citigroup deal in which Citi would buy Wachovia Corp.’s bank branches, deposits and private bank, for $2 billion, or about $1 a share.

Merrill Lynch CEO John Thain has a job.

Ladenburg Thalmann, a 129-year-old investment bank, is rapidly buying its way into the independent broker/dealer world.