Industry

Hugh "Skip" McGee isn't just the head of a British bank's Americas division. He is one of its most lavishly paid officials and the only former Lehman Brothers Holdings Inc. alumnus on the executive committee.

The Cypress Group, a former Morgan Stanley team that managed about $740 million in assets, has left the wirehouse to join Integrated Wealth Management.

As his biggest IBD acquisition closes, Nicholas Schorsch predicts more big-ticket M&A deals during a Milken Institute session; another panelist warns of inflated price tags and bad behavior.

Deal adds over 6,600 financial advisors, giving RCS the country's second-largest independent network by advisors.

Ameriprise Financial posted the biggest gain in the Standard & Poor's 500 Index after reporting profit that beat analysts' estimates and announcing increased share buybacks.

Barclays said Hugh "Skip" McGee will step down as chief executive officer of its Americas unit, almost six years after the British bank bought the operation from the bankrupt Lehman Brothers Holdings.

With nearly $400 million in assets, the trio will bring their new firm's assets to roughly $1.3 billion.

The newly named exec is responsible for relationship management and business development for personal trust, investment management, and private banking in the New York area, Northern New Jersey and Boston.

FINRA is moving to toughen reporting requirements for BrokerCheck, following revelations that hundreds of registered advisors have failed to publicly disclose personal bankruptcies, criminal charges and other potentially damaging information.

In a court filing, the CFP Board says it has logged more than 2,000 hours of legal work in a lawsuit by two Florida planners.