Industry

'Tis the season when the leaves change, the National Football League is kicking its season into second gear, the Yankees are once again chasing another championship, and...yes, there's another mutual fund conference to attend.

Raymond James’ acquisition of Morgan Keegan this year has injected an unprecedented number of new financial advisors into the firm’s ranks, while it continues to see interest from high profile prospective recruits from rival wealth management firms, according to Dennis Zank, chief operating officer at Raymond James.

ClearBridge Advisors the largest manager of equity funds at parent company Legg Mason, apparently wants to cut the apron strings, announcing it would drop the “Legg Mason” name from all its U.S. funds over the next few months.

Boston-based Eastern Bank has named Michael Tyler chief investment officer of its wealth management division.

Wells Fargo & Co., the most valuable U.S. bank and largest mortgage lender, dropped 4% in New York trading after reporting a record third-quarter profit that was marred by narrower profit margins.

Capital Guardian LLC, a Charlotte, N.C., based boutique wealth manager, announced Tuesday it added a former LPL Financial team to its independent channel.

Lord, Abbett & Co. has added nine new partners to its executive team.

Goldman Sachs President Gary Cohn told Bloomberg Television's that he will "probably read" Greg Smith's tell-all book, "Why I Left Goldman Sachs," which comes out Oct. 22.

The Investment Company Institute has named former journalist Mike McNamee its chief public communications officer, responsible for all media and public relations, public policy writing, editorial, website, and design activities.

Old Mutual Asset Management, the US-based global asset management business of Old Mutual plc, has agreed to sell five of its US affiliates to their current senior management teams.