Jan. 9, 2001 SEC Chairman Arthur Levitt Jr. yesterday took a swipe at the equity markets in a speech delivered at Stanford University. The commission at the same time released a study purporting to show that Nasdaq spreads are sometimes...
The new work options at American Express Financial Advisors are contributing to the company’s financial weakness. American Express announced April 2 that it expects to post lower earnings (due out April 23), primarily from losses on high...
First Union announced this morning that it is buying Wachovia Corp. and adopting its corporate identity. First Union Corp. will become Wachovia Corp., and First Union Securities will be renamed Wachovia Securities, officials said during a...
When a broker jumps from one firm to another, and the firm sues--claiming its customer lists are a trade secret and that former employees shouldn’t be allowed to solicit clients--the law firm that Merrill Lynch and some other firms retain is...
Merrill Lynch is making some waves in the trust business. “[Merrill] has certainly bulked up in hiring and marketing,” says Jonathan Blattmachr, head of the trust and estates department at the New York City law firm of Milbank Tweed...
According to Prudential Insurance Co.’s initial public offering document filed yesterday at the SEC, the firm’s brokerage unit ended 2000 with 5,883 reps in the United States, down 3% from 6,072 in 1999. The filing also revealed that...
Here are all of the comments RR heard from Morgan Stanley Dean Witter brokers. A "Our equity research is the best, best in the field. Our level of ethics and integrity is also very high. Our operation/back office is certainly not the best. It...
Here are all of the comments RR heard from Edward Jones brokers. A "They are what they present themselves to be. They are ethical, equitable and fair. They talk the talk and walk the walk. They never tell you something but really want something...
Here are all of the comments RR heard from Salomon Smith Barney brokers. A "Even though there’s serious problems at the branch level, I think this is still best place to work. … Our image is low because of the bad publicity we got from...
Here are all of the comments RR heard from PaineWebber brokers. A "Things are OK here. The best thing about PaineWebber is the freedom and the entrepreneurial aspect that I haven’t seen at other firms." (Training) "If anything, they offer us...
