Industry

Sallie Krawcheck, the former senior executive at Bank of America Corp. and Citigroup Inc., agreed to buy 85 Broads, the global network with 30,000 members that promotes women as business leaders.

Roberto Sanchez-Dahl, and Paolo Valle, formerly managers of the Federated Emerging Market Debt Fund, have joined Manulife.

Thomas Welch knows there’s a better chance he will be fired than retire. So he spent his vacation interning at Merrill Lynch Wealth Management to prepare for a second career to sustain him for the next 40 years.

Baird has bolstered its advisor force with two wirehouse teams with $800 million in assets.

The Securities America move underscored the intensity with which advisory firms are competing for talent, executive search experts said.

Breaking into the brokerage business is getting tougher as declining fees make small accounts less profitable and government restrictions on unsolicited calls make phone sales taboo. That’s leaving big firms struggling to replace a retiring generation of advisors.

Goldman Sachs has filed to launch the Multi Asset Real Return Fund. The fund seeks real return by investing in inflation-sensitive assets.

Goldman Sachs has been “deficient” in linking compensation to company performance, Glass Lewis said in a report, which also opposed the re-election of compensation committee Chairman James A. Johnson. ISS said in a May 8 report that shareholders should vote for Johnson at the New York-based bank’s May 23 annual meeting.

Independent advisors should be preparing themselves more aggressively for sale and consolidation, a new study says.

The firm has hired four wealth sales directors in Los Angeles and Newport Beach to drum up business.