Lorie Konish

One of Wells Fargo Advisors former brokers has won $6.83 million in an arbitration dispute after alleging he was wrongfully terminated and defamed by the firm after cooperating with a regulatory investigation.

Morgan Stanley Private Wealth Management has named Leerink Swann wealth management head Devon Baranski to the post of regional manager for the Southwest.

Citi Private Bank has hired Northern Trust Managing Director Perry Brown to serve as a managing director and private banker in Palm Beach, Fla.

Bank of America subsidiary Merrill Lynch Professional Clearing Corp. has been ordered to pay hedge fund clients Rosen Capital Partners and Rosen Capital Institutional $63.7 million plus interest for an arbitration case dating back to the height of the financial crisis.

Morgan Stanley Smith Barney is warning 34,000 of its investors to be on alert after CD-ROMs carrying their personal data disappeared when they were mailed to a state government office.

Bank of America has lured Morgan Stanley Smith Barney financial advisor David Massey, who previously had $1 billion in assets under management, to its Merrill Lynch brokerage in Carlsbad, Calif.

UBS Wealth Management Americas continues to build on its recent hiring spree with the addition of a two-member Morgan Stanley Smith Barney financial advisor team in Tucson, Ariz.

Wedbush Securities Inc. has been ordered to pay more than $3.5 million to make up for its “morally reprehensible failure and refusal” to compensate one of its traders, an arbitration panel has ruled.

As part of a continuing effort to streamline its retail brokerage business, Wells Fargo & Company this week said it will sell its H.D. Vest financial services business to private equity firm Parthenon Capital Partners.

Barclays Wealth has hired six new investment representatives from Bank of America Merrill Lynch, Goldman Sachs and Morgan Stanley Smith Barney.

Citi Private Bank has hired Alexander “Lex” Zaharoff as managing director and head of the North America investment lab.

UBS has hired a total of 38 new financial advisors in June, with 24 of those hires coming in the last two weeks.

The new hires will work in Ohio, South Dakota and Wisconsin and previously had a total of $420 million in assets under management.

Wells Fargo Advisors has hired Morgan Stanley Smith Barney financial advisor Mark Wieland to its Washington Crossing, Pa. office.

Two former employees at ICAP’s mortgage backed securities desk sought more than $75 million from their former employer.

Bank of America’s Andrew Sieg, currently head of retirement services, will now also lead the firm’s global investment solutions unit as Kunal Kamlani steps down.

While the international millionaire population’s wealth rose past pre-crisis levels in 2010, wealth managers need to prepare as that demographic gradually shifts to younger clients, according to a new report released on Wednesday.

Patricia McDermott will serve as managing director and head of Citi Private Bank in Connecticut and Westchester.

Royal Bank of Canada plans to grow its U.S wealth and capital markets businesses after agreeing to sell its U.S. retail banking operations to PNC Financial Services Group.

By addressing women’s unique investing issues, financial advisors can build up a roster of more loyal clients, a Bank of America Merrill Lynch panel said on Thursday.