Financial institutions

Even as the wirehouse has cut back on recruitment, the hire of two new industry veterans show it’s still looking for top teams.

The wirehouse’s latest litigation suggests other everyday activities of defectors could come under scrutiny.

Two perennial champions retained their top ranks in 2019 — but the aging demographic poses challenges for all firms, according to J.D. Power.

The wirehouse is giving the ultrahigh-net-worth crowd a more complete view of their finances, says Don Plaus head of private wealth management.

Six of the new recruits broke away from Merrill Lynch.

Six months in, the wirehouse is taking an unusually hands-on approach in its first foray into the RIA space.

They have begun eyeing clients with $1 million and less.

Shareholders of both companies will meet separately next month to cast ballots on the $28 billion deal, and BB&T investors will also decide whether the new company should be called Truist Financial.

Truliant Federal Credit Union claims that the BB&T-SunTrust post-merger brand represents trademark infringement and unfair competition.

Banks are trying to catch up with the amenity-rich offices of tech firms.

The regional BD has maintained a steady influx of wirehouse advisors.

Judging by day one on social media, you’d think the new Truist brand was a flop. But marketing and branding experts say the name has a lot going for it. What matters most will be how the two banks advocate for the name.

The firm said this is the first of several new teams it plans to add this summer.

The combined company will be known as Truist, which plays off “trust,” a word the banks’ original names had in common.

“When we think about these offerings, there are no hard lines that are drawn here,” said Merrill Lynch boss Andy Sieg.

Brokers “have become accustomed to this kind of deal structure,” COO Ed Swenson says.

The firm had cut back on hiring efforts in 2016, citing exorbitant costs.

"You should buy into IPOs to hold them, because you believe in the company," James Gorman said.

CEO Sergio Ermotti has resisted pressure from some investors for large-scale layoffs, opting instead for smaller cuts with less impact on morale.