Wirehouses

Morgan Stanley Chairman and Chief Executive Officer James Gorman’s compensation package for last year includes a $5.06 million stock bonus that’s almost double his 2012 equity award.

UBS has added a team of six former Morgan Stanley advisors to its office in Atlanta.

The firm is expanding its operations, pulling talent from RBC Wealth Management and Wells Fargo Advisors.

Assets managed by dually registered advisors are growing faster than any other channel -- underscoring the industry's "slow but steady migration" toward independent models, according to new research from Cerulli.

Morgan Stanley posted strong revenue growth for the fourth quarter led by record earnings for the firm's wealth management division -- a sign of how far the firm has come since acquiring Smith Barney.

Morgan Stanley reported profit that beat analysts' estimates as equity-trading revenue increased and earnings from wealth management climbed to a record.

Gearing up for more stringent regulations ahead, SIFMA is calling on regulators to better coordinate efforts and craft a business-model neutral fiduciary standard.

Bank of America's wealth management unit produced strong profits for the fourth quarter of 2013, and did so with fewer advisors.

UBS AG, Switzerland's largest bank, expects to boost client assets in the U.K. this year even as Swiss competitors try to break into London's $1.2 trillion private wealth market to help counter withdrawals at home.

An advisory group in Winter Park, Fla. with $550 million in client assets leaves Morgan Stanley to go independent.

UBS AG Chief Executive Officer Sergio Ermotti denied speculation that Switzerland's biggest bank will spin off its investment-banking business to meet regulators' demands for holding more capital.

An overwhelming majority of Hispanic and African-Americans say that financial services firms need to hire more diverse staffs, according to a survey conducted by Harris Interactive on behalf of Edward Jones.

Raoul Weil, once a powerful UBS AG executive, will return today to a U.S. courthouse where prosecutors said last month he ran a business that used Swiss bank secrecy to help Americans cheat on their taxes.

Merrill Lynch Pierce Fenner & Smith turns 100 today. At least, she would have, if she was a standalone entity, and not a government-rescued Too Big to Fail entity, forced into a shotgun wedding with Bank of America.

Deutsche Bank AG will pay $1.9 billion to settle claims that it didn’t provide adequate disclosure about mortgage-backed securities sold to Fannie Mae and Freddie Mac.

Lawmakers this week called on FINRA to explain its policies for expunging investor complaints about brokers from the public record, suggesting that the industry regulator should revisit the extent to which information is removed from the BrokerCheck database.

UBS AG, the world’s largest wealth manager, said clients are shifting money to be managed directly by the bank or pay for advice in a reversal of previous outflows after it revamped services to boost profitability.

Puerto Rico came under increased pressure to issue bonds in coming months to prove it can still access capital, as Moody's Investors Service put $52 billion of the island's debt under review for a downgrade to junk status.

Bank of America’s Merrill Lynch agreed to pay about $131 million to settle U.S. regulatory claims it failed to tell investors that hedge fund Magnetar Capital had a role in selecting assets for two 2006 mortgage-backed securities.

Former U.S. Senator Judd Gregg is stepping down as the head of Wall Street’s biggest lobbying group, according to people briefed on the discussions.