Pershing

Capitol Securities Management says it wanted a partner with more retail brokerage experience.

Bill Morrissey, who is leading the effort, described the firm's rapid, multipronged approach.

The big custodian chose a 35-year company veteran to take over the long-vacant position.

Those recognized for their excellence in innovation and leadership across the asset management industry includes State Street CEO Jay Hooley.

Experts say firms that clear through Pershing have an advantage in the looming recruiting fight.

The new job will focus on middle-office services like hedge funds, software solutions and the firm’s message and connectivity engine.

Assets in products susceptible to the risk of fire sales during a future shock are up 673% since 2000.

The new tool is aimed at lowering costs for investors.

Advisers face fewer choices for clients as both the rule and SEC enforcement roil the market.

It allows more flexibility than some may think, according to executives from the two firms.