Industry

Jody Team, heading a three-advisor firm with $40 million in assets under management, has launched Deltamark Advisors, a "turnkey" RIA support firm.

A win for Morgan Stanley in a fight with Citigroup Inc. over the value of their brokerage joint venture could show the firm is playing a losing hand.

GoldenTree Asset Management LP, a money manager overseeing $15.9 billion in assets, hired Daniel Ornstein from Morgan Stanley to co-head its trading business.

Forward has hired a new marketing chief in light of the defection of former president Jeff Cusack to Nuveen Investments.

Even as Merrill Lynch moved to a $40 million settlement in response to a class action lawsuit this week, some experts ask whether it will be enough to satisfy some several thousand advisors who left the firm following its acquisition by Bank of America.

Forward’s former president Jeff Cusack has taken a new job with rival alternative mutual fund ship Nuveen Investments.

Merrill Lynch formally agreed to a $40 million settlement to a class action lawsuit brought by two of its former advisors regarding their deferred compensation on Friday, a decision that will potentially impact more than a thousand advisors with production levels of $500,000 and less.

Pyramis Global Advisors, the institutional asset management arm of Fidelity Investments, has expanded its global distribution leadership team with the additions of Maureen Fitzgerald as head of North American Institutional Distribution, a newly created position.

The firm moved Paul Patterson into the position of Deputy Chair, RBC Wealth Management, ultra-high net worth international.

Calamos Investments this week welcomed an old foe into its fold.