Economy

Wall Street executives show a more conservative outlook toward their investments, but a majority still avoid a financial advisor.

Goldman Sachs Asset Management Andrew “Buddy” Donohue, the former head of the U.S. Security and Exchange Commission's Division of Investment Management as its deputy general counsel.

HighTower Advisors hired David Nelson as a private wealth advisor at its Washington, D.C., based Pagnato-Karp Group.

Chris Martin and Caryn Cosentini joined the team as senior vice presidents and senior private bankers.

A four-man team, the Nierling Investment Group, has joined RBC in Dallas, Texas.

Commonwealth Financial Network, the nation’s largest privately held independent broker-dealer, added Schluchter Investment Advisors, which manages more than $300 million in client assets.

During the first presidential debate, a Yahoo Finance poll found that 80% of voters believed Mitt Romney gave a stronger performance than President Obama. Blogger Jesse Marrus writes that among the praise and critiques of both candidates, one important question has emerged: what will happen to Wall Street if Romney wins in November?

Scott & Stringfellow has brought on three former Wells Fargo advisors to join its Charlotte office.

RBC has pulled an industry veteran from UBS to fill the position of branch director of its Burlington offices.

Wells Fargo has tapped firm executive Jim Hays to serve as executive vice president and head of wealth brokerage services.

Michael James, a former wealth strategist in Goldman Sachs' mid-Atlantic region, has joined the Philadelphia office of Glenmede, an independent investment and wealth management firm, as director of family wealth advisory.

Fed up with changes in infrastructure, two veterans with more than two decades at Morgan Stanley move to Ameriprise.

RBC Wealth Management has snapped up a three-member wealth management team from Merrill Lynch in Colorado.

As Merrill Lynch intensifies its hunt to grab top financial advisory talent away from Morgan Stanley, some recruiters say more Morgan Stanley advisors are considering a transition.

The firm has shuffled leadership in the Southeast to accommodate a new regional manager and additional recruits.

Since it was formed last year, Citi Private Bank's North America Asian Clients Group has increased its client base by 10percent and its assets under management by over 40 percent.

Following an annual review, the Minneapolis, Minn.-based firm is rolling out several changes in its payout structure as it moves away from a deferred compensation contribution model.

In a new strategic direction, Washington Wealth Management, a two-year old firm that has been growing on a tear by luring advisors from wirehouses, has joined LPL, bringing $750 million in assets under management to the country's largest independent broker-dealer.

Wirehouses are set to lose 7% market share in the next three years, according to a report released Monday by Cerulli Associates. "These survey findings indicate a shifting advisor base between channels, with a lot of activity moving away from the wirehouse firms," Bing Waldert, director at Cerulli, said in a press release.

Citi Private Bank has hired foreign exchange trading expert Oscar G. Salem as director and foreign exchange investment specialist. In this newly created position, Salem will oversee the bank's currency business in the Southwest region.