Wealth Management industry news covering the financial markets, trends and wealth professionals.
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Regulators today announced that they have fined five brokerage firms a combined $8.25 million for failing to adhere to record-keeping requirements. The fines were levied by the SEC and self-regulatory bodies NYSE and NASD.
Sandy Weill, the chairman of Salomon Smith Barney’s parent Citigroup, has informed brokers and other employees that plans to eliminate the Salomon name, a Wall Street
hallmark for nearly a century, have been postponed, according to sources.
Red Book Online places a wealth of information at your fingertips. With a few clicks of your mouse you can connect with a wide range of career resources specifically for financial services professionals. You'll find dozens of categories and...
Prudential Financial, the holding company for Prudential Securities in the U.S., says it intends to focus solely on high-net-worth individuals in Europe. In doing so, Prudential yesterday said it will sell or close a number of its retail...
Patrick McGurn, vice president and special counsel with Institutional Shareholder Services, said that even with a market recovery the industry will continue to feel the fallout of corporate scandals such as Enron, WorldCom, etc.
This is the latest century-old name to be dumped in an ever-changing industry where financial services companies are consolidating. Morgan Stanley dropped Dean Witter from its name earlier this year, and Citigroup plans to drop the name Salomon...
