Financial institutions

Bank of America Corp.’s Lisa Shalett, who was chief investment officer for the firm’s Merrill Lynch brokerage for two and a half years, will leave the company.

Merrill Lynch financial advisor Charles Balducci says that partnering with Eric Snyder, who ties with him to take the number 12 and 11 slots on the Top 40 Under 40 list, is a critical part of his success.

Goldman Sachs Group Inc. President Gary Cohn said that Europe still faces “fundamental problems” and that policy makers don’t appear to have a plan for generating economic growth in the region’s southern nations.

UBS AG posted a second straight quarterly loss after booking a fine for trying to rig global interest rates and costs tied to job cuts.

The firm has picked up a 26-year industry veteran to help grow its practice in Florida.

Luke Palacio will join Citi Private Bank as managing director and regional market manager for the South East region on March 18. He will look to expand the firm’s presence throughout South Florida beyond Miami, Boca Raton and Palm Beach.

For Wells Fargo Advisors Financial Network, offering financial advisors more choice in terms of how they want to practice helped propel the business to a record year in recruiting in 2012.

The Naples office of The Private Client Reserve is expanding its services, adding new advisors and relocating to a larger office space in the upscale neighborhood of Mercato.

UBS financial advisor Gregory Klenke, number 13 on the Top 40 Under 40 list, says that working with corporate executives’ stock compensation requires careful planning and managing emotions.

Stifel Financial Corp. Chief Executive Officer Ron Kruszewski paused in mid-sentence and asked an employee for the list, a chart showing in red which of the St. Louis-based firm’s rivals have closed or sold out...

Merrill Lynch financial advisor Goran Bojovski, number 14 on the Top 40 Under 40 list, says that focusing on corporate retirement plans helps him serve a range of clients.

Firms are partnering with their advisors to help mid-market business owner clients retire.

In the fourth quarter, fees and commissions from trust services generated $22.0 million, a 23% increase from $17.9 million a year earlier.

For RBC Wealth advisor Samir Murty, number 15 on the Top 40 Under 40 list, providing personal advice requires both an understanding of the numbers and effective communication.

The firm has recruited two large wirehouse teams to open a new office in Stuart, Fla.

Revenue and earnings rose for the year as the firm reported solid growth in its wealth division.

The firm has hired the former head of Wells Fargo’s advisor development group to help open an office in the Northeast.

The bank has been investing heavily in the wealth management business in terms of hiring and training staff as well as new technology.

Morgan Stanley Wealth Management has snapped up five financial advisors from UBS who previously managed $750 million in client assets.

For J.P. Morgan Securities financial advisor James Odorczuk, who lands at number 16 on the Top 40 Under 40 list, making decisions on behalf of clients is a team effort.