Lorie Konish

In a new regulatory filing, bank holding company Regions Financial estimates it could face additional legal losses totaling up to $300 million.

Charlie Mak has assumed the role of president of Morgan Stanley International Wealth Management, following his role as head of Morgan Stanley Smith Barney in Asia.

UBS Wealth Management Americas has hired four Bank of America Merrill Lynch financial advisors previously handling $800 million in client assets.

The Financial Industry Regulatory Authority has filled two slots on its Board of Governors with Bank of America President of Global Wealth & Investment Management Sallie Krawcheck and Tritaurian Capital Inc. Chief Operating Officer Ken Norensberg.

Wells Fargo Advisors has hired four new financial advisors overseeing about $568 million in customer assets in Michigan.

HighTower Advisors has hired two Washington, D.C.-based Bank of America Merrill Lynch financial advisors who previously oversaw more than $1 billion in client assets.

Bank of America Merrill Lynch has tapped its rival wirehouse firms with the hiring of seven new financial advisors representing $813.14 million in client assets under management.

Shane Selewach of Hyannis, Mass. has been sentenced to eight to 12 years in prison after he was convicted of stealing more than $330,000 from his clients.

A six-month pilot program, launched this week in the New York City metropolitan area, will match financial advisors and entrepreneurs.

A Financial Industry Regulatory Authority arbitration panel has ordered Merrill Lynch to pay $8.1 million in compensatory damages to a family corporation that claimed the firm had breached its fiduciary duty with its investments.

UBS Wealth Management Americas has hired two financial advisors from Oppenheimer & Co. to its Boca Raton, Fla. office.

Broker-dealer Ameriprise Financial Inc. posted higher profits for the second quarter on Wednesday and said the planned sale of its Securities America unit is “progressing as anticipated.”

Richard Frick joined Morgan Stanley Smith Barney as Philadelphia complex manager last week replacing Frank LaRosa, who was terminated in May.

Greg Williams, who has served at Raymond James for 17 years, will now serve as senior vice president and managing director of the Private Client Group administration.

Bank holding company Regions Financial Corp. reported its third consecutive quarterly profit in its second quarter results on Tuesday as it looks to shed its Morgan Keegan brokerage business.

UBS Wealth Management Americas’ second-quarter performance showed gains in revenue and pretax profit and executives reaffirmed their commitment to keeping the business.

Brokerage firm Benjamin F. Edwards & Co. has staffed its new Chattanooga, Tenn. office with nine new hires, many from Wells Fargo Advisors, while also adding a Morgan Keegan veteran to its Texas team.

As regulators prepare for the majority of the Dodd-Frank legislation in the coming months, keeping the U.S. competitive should be a top priority, industry members said at SIFMA’s conference on Wednesday.

UBS Wealth Management Americas has hired Morgan Stanley Smith Barney executive Jon Mallon as director and branch manager for its Santa Rosa, Calif. office.

The new financial advisor team, which operates under the name VWG Wealth Management, includes John Verfurth, Richard Weeks and Jeff Grinspoon.