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Philip Spartis, a former highflying Salomon Smith Barney broker, last week won a $1 million defamation judgment against lawyer Stuart Goldberg in an Arizona court. Goldberg had claimed Spartis, who used to handle accounts for executives of...
The competition over exchange-traded funds wraps is heating up. Three of Wall Street’s largest wirehouses—Merrill Lynch, Smith Barney and UBS—have over the past 12 months joined a generally limited field offering the wraps.
In a regulatory filing Wednesday, Morgan Stanley disclosed that it had granted James Gorman, the new head of the firm’s retail brokerage unit, around $29 million in company stock, plus options on another 302,128 shares.
Stockbrokers have won their second big overtime pay case against Wall Street firms and this may only be the beginning of a rout that could cost brokerage houses many millions of dollars more.
During his tenure at Merrill Lynch, James Gorman doubled profit margins and raised broker productivity by a third—giving him the ideal resume for turning around Morgan Stanley’s beleaguered retail unit.
The chairman of fund complex MFS Investment Management is calling for the formation of a task force to overhaul performance reporting for hedge funds. In a keynote address today to the National Investment Company Service Association’s (NICSA...
Merrill Lynch has agreed to merge its asset-management business with BlackRock in exchange for a nearly 50 percent stake in money manager, the two companies said Wednesday. The move recasts BlackRock as the largest publicly traded money manager...