Stanley O’Neal, chairman and CEO of Merrill Lynch, will be deposed on Nov. 1 in New York as part of the discovery phase in a race-discrimination suit filed by one of the firm’s black brokers.
MFS Investment Management, long rumored to be on the auction block due to lagging profit margins, middling performance and increasing regulatory demands, could be mere days away from a blockbuster merger with another large asset-management firm...
The NASD has fined Securities America $2.5 million for failing to supervise an advisor who allegedly lured clients into early retirement with exaggerated promises of high returns...
Merrill Lynch launched on Wednesday a new “wealth management center” in New York, as part of a larger effort to capture market share in the ultra high-net-worth advice business. The move is consistent with what is happening across the retail...
Morgan Stanley has officially opted to join the inter-brokerage pact, first created in the fall of 2004, which stipulates that members will not sue brokers departing to other firms when they try to take their clients with them—as long as...
Every brokerage firm is courting wealthy clients, and many of them say that serving the wealthy is what they do best. So just how are these firms doing? A new study based on high-net-worth customer opinions reveals a surprising mix of success and...
UBS is doing all it can to hold onto as many of the advisors at newly acquired Cleveland-based McDonald Investments as possible—beginning with a retention package that will be hard to refuse.
The racial-discrimination suit against Merrill Lynch is under way again after settlement talks between African-American brokers and the firm came to a halt in early June.
Blas Catalani, a former sales manager at Merrill Lynch’s San Antonio office, is suing a female ex-broker and her lawyer on grounds that the two women conspired to get him fired.