Wirehouses

The new recruit is focused on serving the Brazilian market, according to the firm.

The broker slashed her payment by pressing for funds she said the firm promised but never paid.

Morgan's latest hires oversaw about $575 million, On Wall Street learns exclusively.

Andy Sieg, head of the firm, had previously indicated that he was open to rethinking aspects of the firm's efforts to comply with the regulation.

The last time the pool was smaller was in 2012, when it decided to cut large parts of the investment bank and was fined for trying to rig global interest rates.

Keith Rowling ranked No. 2 on the 2016 list of the industry's top young producers.

The wirehouse has already paid $415 million in fines and disgorged profits in a settlement.

The ex-wirehouse advisers are partnering with Stanley Hochhauser, an industry veteran of more than 50 years.

The decision also affects David Carroll, who leads wealth and investment management, according to the firm.

Andy Sieg says the firm's digital wealth and mobile app investments are "a key strategic story."