Financial institutions

Janney has picked up a former Morgan Stanley duo with over $1.5 million in production.

To bring alternative investments to a wider investor base, Goldman Sachs Asset Management has launched the Goldman Sachs Multi-Manager Alternatives Funds.

JPMorgan Chase & Co., Goldman Sachs Group Inc. and the world's largest banks won rollbacks in final Dodd-Frank Act rules that promise to transform the private swaps market by increasing competition.

Yves Cochez will manage the bank’s portfolio management team and set the overall direction of investment management for high-net-worth clients.

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.

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.

Elise Fortin, Umpqua Private Bank’s newly appointed leader in Seattle, believes that Umpqua’s “high-touch” offerings will resonate well with business owners and Gen X investors.

Morgan Stanley is expanding the types of debt it buys as deposits increase with the purchase of its brokerage venture and interest rates remain near record lows.

Two former branch managers at Raymond James have moved to Stifel and LPL in Austin, Texas.

Steven Wieting, managing director and U.S. economist in Citi Research, will be responsible for formulating investment strategies for the business and its clients around the world.

The new hires join the firm in Jackson, Tenn., and Mount Kisco, N.Y.

The St. Louis-based firm, which now has 30 offices, opened its third Florida location with an office in Destin and made inroads into Alabama with a new branch in Birmingham. It also added an advisor to its White Plains, N.Y., and Chattanooga, Tenn., location.

Merrill Lynch Wealth Management has tapped Ashvin Chhabra to serve as chief investment officer and head of Investment Management and Guidance.

Credit Suisse Group AG sued its former vice president of emerging markets, Agostina Pechi, over claims she stole the bank’s trade secrets in a bid to win clients for her new employer, Goldman Sachs Group Inc.

UBS plans to move out of almost three-quarters of the space it rents at Manhattan’s 299 Park Ave. as it seeks to reduce real estate costs, but the company intends to keep some wealth-management operations in place while moving its investment-banking department to another location.