Lorie Konish

A FINRA arbitration panel awarded $1.76 million to an investor group who participated in Madoff feeder fund Rye Select Broad Market Fund and other investments.

When Lyle LaMothe said on March 3 that he would step down from his post as head Bank of America Merrill Lynch’s U.S. wealth management business, industry speculation immediately set into motion regarding his replacement. And then the wait began.

Ken Abady, Brad Benter and Steve DeMatteo will join UBS’ San Diego office.

John Thiel will start his new position May 1, according to a company memo sent by wealth management division President Sallie Krawcheck on Wednesday.

Henry Wagner comes to UBS from Stern, Agee & Leach.

The Switzerland bank’s U.S. wealth management business advisor ranks reached their most stable levels since before the financial crisis.

Ameriprise will seek a buyer for its independent broker-dealer subsidiary Securities America, while its first quarter earnings report showed positive growth in other areas.

Stifel Nicolaus has now added 46 new offices since 2007 as it pushes for a greater presence in the Western U.S.

Financial advisors Ian Jones and Peter Jones will focus on the Taft-Hartley market.

The firm posted wealth management revenue gains for the first quarter compared with the same period in 2010, while its financial advisor ranks lowered to 17,800 reflecting cuts.

Wells Fargo posted $3.2 billion in revenue for its wealth, brokerage and retirement business on Wednesday.

With the shift, MSSB has hired J.P. Morgan Chase’s Jeff Hack as chief operating officer.

The banking company’s results grew for its investment bank and other businesses, while mortgage-related losses are expected to continue.

A FINRA arbitration panel has ordered Citigroup Global Markets to pay $54 million in compensatory and punitive damages to investors in its municipal arbitrage trust funds.

The Port Jefferson, NY team previously had $1.8 million in annual production and $277 million in assets under management.

FINRA ordered Santander Securities of Puerto Rico to pay $2 million in fines and review its procedures that resulted in customer losses.

A new study published by Aite Group found that financial advisors can better leverage customer relationship management systems.

Scott McCuaig stepped down from his leadership role at broker-dealer subsidiary Stifel Nicolaus & Co.

UBS will pay up $2.5 million in fines and $8.25 million in restitution for allegedly botched sales of Lehman Brothers principal protection notes.

A letter from the Securities and Exchange Commission said that deadlines for mid-sized advisors to register with states and private advisors to become registered could be extended into 2012.