One day after The Wall Street Journal reported that Merrill Lynch was looking to slash its spending in its retail unit by $300 million to $400 million a year, President Stan O’Neal took the opportunity today to try and calm some fears of...
Who owns the client ... the brokerage firm or the broker? Merrill Lynch retail chief James Gorman says the numbers answer that question quite clearly. “The experience is that when brokers leave they take 65% of their book,” Gorman told...
Ibbotson has sent out to financial advisers an e-mail containing a presentation-quality slide showing what the market has done after previous tragic events. Reps who did not receive the e-mail can call Ibbotson at 800/758-3557, or e-mail sales...
The impact of the terrorist attacks of Sept. 11 on the securities industry looks to be more than $1 billion. An SIA report estimates that the securities industry’s net operating profits for the third quarter, which showed indications of...
Another top executive at Merrill Lynch has stepped down. The company announced today that Win Smith Jr. relinquished his title as president of Merrill Lynch’s International Private Client Group, the division that oversees roughly 3,000...
NEW YORK--(BUSINESS WIRE)--Oct. 2, 2001--Merrill Lynch (NYSE: MER) today announced a new effort to assist employees and clients wishing to contribute securities, cash and/or Merrill Lynch Visa Signature Rewards Points to September 11 relief...
Ross Rogers has been replaced as head of retail at U.S. Bancorp Piper Jaffray, having been replaced by Paul D. Grangaard, the firm announced today. A Piper Jaffray press release says Rogers “is leaving the firm to pursue other interests in...
Almost everyone likes to be pampered, particularly in this age of impersonal communications. When was the last time a service provider remembered your birthday by throwing you a party, sending you a cake or a book by your favorite author? Brokers...
In the wake of the terrorist attacks of Sept. 11, brokers found clients not so much worried about their money as they were concerned about their brokers and the nation. Nobody's focused on the market yet, says a Merrill Lynch rep who was reached...