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Gorman, who owns about $31 million of his firm’s stock, has a Morgan Stanley private wealth advisor and his personal investments include municipal bonds and a biotech fund, while he favors global equities for his children’s accounts.

The firm has expanded in Texas with the addition of a team of three former Merrill Lynch advisors.

Bank of America Corp.’s Merrill Lynch unit must face a lawsuit filed by two trusts that hold and administer mortgages on behalf of investors who own more than $1 billion worth of securities collateralized by the loans.

For almost nine years, the firm has been lending to companies with ratings in the B to BB+ range, below the investment-grade threshold, the employee claims.

Morgan Stanley will get another $57 billion of deposits from Citigroup as part of its Smith Barney purchase and plans to increase securities lending, commercial real estate, corporate and warehouse lending.

The Index wanted a higher-priced stock to help give financials a greater weighting.

Bank of America Merrill Lynch will pay $2.8 million to settle claims that it took too long to compensate departing brokers.

Morgan Stanley Chief Executive Officer James Gorman said there’s almost no chance of another financial crisis like the one that endangered his firm five years ago.

In a round of summer hiring, the firm brought in four advisors with a total of over $500 million in assets.

Bank of America is seeking approval of a $160 million settlement from a judge who thrice rejected requests by black financial advisers at its Merrill Lynch unit to sue as a group over alleged racial discrimination.

As summer comes to a close, we're taking a look back at some of the hottest stories this season. Whether you were on vacation or busy working -- maybe you just finally have time to catch up on reading over the long weekend -- we've gathered the summer's top stories all in one place.

As real estate recovers, non-listed REITs are soaring, but they haven’t been much of a hit with customers of Merrill Lynch.

Morgan Stanley has bolstered its New York office with a top billing advisor from J.P. Morgan Securities, the boutique brokerage branch of JPMorgan Chase.

UBS will pay $4.58 million to settle an investigation by regulators into whether its sales assistants were licensed in states where they did business.

Responding to increased client demand, the firm has launched new efforts to enhance its socially responsible investment options.

Bank of America will retain the Merrill Lynch Wealth Management brand and operations even if it dissolves the parent company, Merrill Lynch & Co.

Bank of America, the second-biggest U.S. lender, plans to merge its Merrill Lynch subsidiary into the parent company to reduce complexity and costs.

UBS has tapped Jonathan Brooks to be a sales director responsible for bringing in corporate clients.

Clients often dream of retiring overseas for a change of scenery and lifestyle. Here’s what a handful of advisors have to say about some of the most popular overseas retirement destinations among their clients.

Wells Fargo has expanded its Denver, Colo., operations adding an advisor with $150 million in assets under management.