Financial institutions

Seven advisors have joined Baird’s wealth management group in Texas, Maryland and Nebraska in a late summer round of recruiting.

Wells Fargo & Co., the biggest U.S. home lender, is restructuring sales and trading operations to form a new markets division at its investment bank as the firm challenges more established Wall Street rivals.

Southwest Securities has hired J.C. Graham as part of its latest recruitment campaign.

As Raymond James Financial Chief Executive Paul Reilly looks to the future, he sees more diversity in the firm’s workforce, particularly when it comes to female and younger financial advisors.

Webster Bank has recruited Daniel FitzPatrick from BNY Mellon Wealth Management to lead its recently launched private bank.

Raymond James’ acquisition of Morgan Keegan this year has injected an unprecedented number of new financial advisors into the firm’s ranks, while it continues to see interest from high profile prospective recruits from rival wealth management firms, according to Dennis Zank, chief operating officer at Raymond James.

Wells Fargo & Co., the most valuable U.S. bank and largest mortgage lender, dropped 4% in New York trading after reporting a record third-quarter profit that was marred by narrower profit margins.

Goldman Sachs President Gary Cohn told Bloomberg Television's that he will "probably read" Greg Smith's tell-all book, "Why I Left Goldman Sachs," which comes out Oct. 22.

Citi expects new banker to play a key role in growing its franchise in Northern California and reaching more ultra-high-net-worth clients.

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.

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.

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.