Wirehouses

UBS Wealth Management Americas has added a former Morgan Stanley advisor with $600 million in assets.

A former Deutsche Bank Securities advisor with over $2 million in production has jumped to Morgan Stanley.

UBS AG, Switzerland’s largest bank, agreed to pay $120 million to settle claims by investors in Lehman Brothers Holdings Inc. securities in a lawsuit tied to the investment bank’s 2008 collapse.

The firm has added an 18-year industry veteran to its Greenville, Del., branch office as a vice president of wealth management.

Wells Fargo has created new positions for a director of client acquisition and a director of client experience.

Brokers who hold investors’ assets will have to file quarterly reports attesting to compliance with measures toprotect customer money and securities under rules adopted by the U.S. Securities and Exchange Commission.

The unit’s revenue and profit rose to new highs as productivity per advisor rebounded back to over $1 million.

UBS AG, Switzerland’s biggest bank, said gains at its investment bank fueled an increase in second- quarter profit and announced plans to buy back the fund set up by the central bank in 2008 to help it shed toxic assets.

The new portfolio management and research tool is aimed at advisors in both Raymond James' employee and independent channels.

Raymond James posted only slight improvement as fixed income and lower trading revenue cut into earnings.

Janney has hired two advisors from Morgan Stanley and Raymond James with $91.6 million AUM.

Julius Baer Group said increased client trading boosted margins as Switzerland’s third- biggest wealth manager integrated Merrill Lynch businesses acquired from Bank of America Corp. last year.

First-half revenue at the six biggest U.S. banks climbed for the first time in four years, fueling profits and vindicating Bank of America Corp. and Morgan Stanley leaders who presided over stock slumps.

Smaller signing bonuses and shorter contract terms are on their way, says recruiter Mark Elzweig, and an aging advisor population is to blame.

Morgan Stanley and Goldman Sachs Group Inc. led Wall Street banks in posting a collective 42% increase in equities-trading revenue in the second quarter, the largest jump in more than three years.

Morgan Stanley, owner of the world’s largest brokerage, reported a 66% earnings increase that beat analysts’ estimates as trading revenue jumped and wealth- management profit margins climbed.

One Major League All Star was unsure of whether he’d reach the big leagues as a minor-leaguer in Mobile, Ala. So he lined up an internship at Morgan Stanley.

Bank of America’s Global Wealth and Investment Management business posted strong growth across the board in the second quarter.

Goldman Sachs Group Inc. said earnings doubled, beating analysts’ estimates on a surge in underwriting revenue and gains from the firm’s own investments.

Herbert Allison Jr., the onetime president of Merrill Lynch & Co. who oversaw the U.S. government’s bank-bailout program following the financial crisis that led to his former company becoming a unit of Bank of America Corp., has died. He was 69.