Branch banking

Wirehouse and regional advisers can help honor the industry's top leaders.

The bank will add "targeted talent that will play more of an advisory rather than transaction-oriented role," says SunTrust's CFO.

Executives also estimate how much of their advisory force will quit in the wake of the DoL rule.

The firm's latest hire had spent 17 years at Raymond James and its predecessor firm, Morgan Keegan.

Stephens recruited an executive with more than 30 years experience, whose career includes stops at Wells Fargo, Credit Suisse, Lehman Brothers, PaineWebber and Merrill Lynch.

The new recruit previously worked at U.S. Capital Advisors, an independent wealth management firm.

The move limits the bank’s ability to make golden-parachute payments and requires regulator approval before executives are hired.

Robert Peyreigne was hired to fill the role after Michael Armstrong departed Jefferies for RBC earlier this year.

Several senators conducted their own review of FINRA reports and said they found that Wells Fargo had “ample information” about the severity of the bogus account practices for years.

Unlike other scandals in recent years involving foreign exchange rates and the London Whale, Wells' employees falsifying accounts and charging unfair fees is easy to grasp.