Citing steep redemptions and continued market declines,
The coming year is going to be a difficult period because of the lower equity prices and redemptions, Johnson said, speaking after a luncheon presentation at the Boston College Chief Executives Club. Asked whether there could be additional layoffs, Johnson responded, We never know. You tell us how the market is going to go.
Johnson himself said he believes the markets will continue to be rough in 2009.
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A California man's complaint alleges that Morgan Stanley's website enabled tracking tech from Google and Microsoft to collect web visitors' browsing data for targeted online ads.
In a Q1 earnings call, CEO Jim Cracchiolo emphasized the firm's recruiting approach that seeks a "built, not bought" advisor workforce.
The latest Cerulli Associates study tracking investors' willingness to pay for financial advice offered a mix of potential challenges with new business opportunities.
The Bahnsen Group, founded in 2015 by a former Morgan Stanley team, has grown into a private wealth powerhouse with roughly 100 employees and offices in three states.
