Industry

The value of RIA mergers and acquisitions activity for 2012 looks set to top 2011 totals, according to a new report.

A half-dozen top Goldman Sachs Group Inc. officials, including Chief Executive Officer Lloyd C. Blankfein and President Gary D. Cohn, reaped $14.6 million by exercising 10-year-old stock options due to expire next month.

Merrill Lynch Wealth Management has snapped up a Morgan Stanley advisor team managing about $2.5 billion in client assets to its Private Banking and Investments Group.

With 30 years industry experience, Robert Bernardin joins Hilliard Lyons as a senior vice president in Indiana.

Want to avoid personal liability in, for instance, properly valuing the assets in funds you manage?

Janney Montgomery Scott recruited a 12-person team led by Kevin Roche and Jeff Miller to help expand its structured product offerings.

Bank of America Merrill Lynch has promoted Keith Glenfield to head of the firm’s Alternative Investments Group, as the firm seeks to expand its growth when it comes to hedge funds, private equity and other alternative investments.

Morgan Stanley reported on Thursday that its global wealth management business saw it pre-tax income fall to $239 million, down from $356 million one year ago, and net revenue of $3.34 billion, up from $3.23 billion in the third quarter of 2011, as the firm closed its acquisition of the next stake in the Smith Barney joint venture.

Greg Smith, the former Goldman Sachs Group Inc. salesman who publicly accused the firm of ripping off its clients, was denied a raise and a promotion in the weeks before he resigned in March, documents provided by Goldman show.

Royal Bank of Canada will probably miss its 2015 target of C$2 billion ($2 billion) in annual earnings from asset management because of low interest rates, executive George Lewis said.