Financial institutions

RBC Wealth Management added a branch manager with three decades of experience to its Denver Tech office.

After the successful completion of the Morgan Keegan technology integration, the firm is eliminating 160 positions due to overlap in the information technology segment.

The appointment should help enhance equities research offerings for the Private Client Group, the firm said.

The burgeoning influence of financial advisors in the United States was a repeated observation at this year's Tiburon CEO Summit at New York City's Ritz Carlton in Battery Park. Here are 11 themes we heard at the two-day event encompassing 200-plus executives and advisors.

Advisors rule the financial services industry for now -- but keep an eye on direct-channel “self-serve” distribution, Chip Roame said Tuesday at his firm's semiannual CEO Summit.

In its continued push for another year of growth, JHS Capital advisors has expanded its Pacific Northwest presence.

Morgan Stanley Wealth Management hauled in nine new advisor hires on Friday with more than $765 million in assets and $9.2 million in fees and commissions.

UBS Financial Services has picked up three financial advisors from Morgan Stanley in Arizona and Indiana who managed $467 million in client assets.

Cetera Financial Group is growing again. The broker-dealer network has signed a definitive agreement to acquire Tower Square Securities and Walnut Street Securities from MetLife.

Expanding its New England presence, the firm added a three-decade industry veteran in Connecticut.

Four advisors with over $3.7 million in total production have jumped to Morgan Stanley from Wells Fargo and Merrill Lynch.

The debate over whether large banks are still "too big to fail" has spread like wildfire in recent months.

The Minneapolis bank stakes its claim in the ultra high-net-worth space with facilities that are part private club, university, wealth management shop and boutique hotel.

RBC Wealth Management has strengthened its presence in Pittsburgh with the addition of five advisors with $2.8 million in combined production.

The happiness of the independent advisor appears to be slightly overrated. By a slight but significant margin, advisors in RIAs aren’t as happy with their careers as those in wirehouses.

American Century Investments has named Joseph Schultz head of intermediary sales, responsible for the firm’s field and internal sales businesses, including wirehouses, regional and independent advisors, registered investment advisors, insurance company advisors and broker-dealer key account management.

Eight former Morgan Keegan & Co. mutual-fund directors agreed to settle U.S. regulatory claims that they allowed assets backed by subprime mortgages to be overvalued as the housing market collapsed in 2007.

Brian T. Moynihan, who endured record losses and public thrashings while cleaning up Bank of America Corp.’s mortgage mess, said he wouldn’t mind being chief executive officer of the lender forever.

UBS still sees a “challenging environment” for its wealth management business as clients remain reluctant to invest on a large scale, Chairman Axel Weber said.

Manulife Asset Management has expanded its equity capabilities today.