Industry

Gorman, who owns about $31 million of his firm’s stock, has a Morgan Stanley private wealth advisor and his personal investments include municipal bonds and a biotech fund, while he favors global equities for his children’s accounts.

The firm has expanded in Texas with the addition of a team of three former Merrill Lynch advisors.

BNY Mellon Wealth Management is moving to a larger office space in West Palm Beach to accommodate growing business in Florida, the wealth manager announced Tuesday.

The wealth manager is moving to a larger office space to accommodate growing business in Florida.

BNY Mellon Wealth Management hired Tracy McCarthy to lead its Denver office as regional president. She will reports to David Emmes, president of U.S. Markets West.

The move is part of BNY’s previously announced plans to expand its nationwide sales force by 50% over the next 18 months.

New York, California and Texas will be ground zero for Fiera Capital, the $71 billion Canadian investment manager that is hoping to crack the top tier of the U.S. private wealth market.

Investcorp's U.S.-based Hedge Fund business announced that Elena Ranguelova has come on board as Head of Credit and Equity Strategies.

Bank of America Corp.’s Merrill Lynch unit must face a lawsuit filed by two trusts that hold and administer mortgages on behalf of investors who own more than $1 billion worth of securities collateralized by the loans.

“To have a national brand, you have to have a client experience that can be duplicated in every location, like Starbucks," says Rudy Adolf, CEO of Focus Financial Partners. "No advisory firm has the ability to deliver this kind of promise," he says.