Wirehouses

Morgan Stanley Wealth Management has tapped rival wirehouses UBS and Wells Fargo for four advisor hiress with $475 million in client assets under management and $4.5 million in production.

Janney has expanded its operations in Washington, D.C. with a two-man team overseeing $142 million in assets.

John Hallacy, a 35-year industry veteran, is retiring as head of municipals research at Bank of America Merrill Lynch, he confirmed late Monday.

Part strategist and part cheerleader, Stephen Viets is a three-time Top 10 branch manager. Viets says that the job also requires a diplomat's tact. "It's all about handling insecurities and misunderstanding," he says.

The network was launched in September to help breakaway brokers transition from the traditional wirehouse model to independence.

Kirk Mandlin has a simple goal for this year and any year. "To be the best leader, husband, and father I can possibly be," he says. With the power of positive thinking, Mandlin expects to use those strengths to expand his business.

Rob Malenfant worked his way up the ranks at Smith Barney, spending several years in Connecticut, New York, and Los Angeles before returning to Boston as a branch manager. The variety of experiences and people he worked with inspires him now at his Boston Harbor complex, he says.

This year, the leading wirehouse and regional wealth management firms took the steps necessary to ensure they reap rewards as markets hit new highs.

The best bank managers and best wirehouse managers have a lot in common. While each has the distinct flavor of their respective channels, they are very similar in spirit.

Catherine Lapadula is a hard-charging woman who says she is doing what she loves and sitting where she always wanted to sit—in the manager's seat at UBS's international wealth management operation in New York City.

UBS AG, the Swiss bank seeking to boost profit from wealth management, said it plans to expand in Africa as economic growth rates surpassing 5% boost demand for banking services from the continent’s rich.

The past five years have been difficult for many advisors, but it was also a time of opportunity, according to Michael Gatewood of UBS Wealth Management.

When Wells Fargo named Rick Folmar the company's second-best complex director for recruiting in 2011, he knew he had more work to do. "It's worse to be number two than it is to be number 20. If you're number 20, you never believed you could be number one," Folmar says.

Vishal Bakshi moved to Merrill Lynch’s Private Banking and Investment Group in New York after managing more than $1 billion in client assets at Credit Suisse.

JPMorgan Chase & Co. hired Travis Machen from Morgan Stanley to run corporate banking for hedge funds, money managers and other mid-sized financial firms.

UBS AG’s Chief Financial Officer Tom Naratil will meet next week with Knight Vinke Asset Management LLC, an investor that called for a spinoff of the lender’s investment bank, two people familiar with the matter said.

Before Dom Starsia talks about national titles, he unfolds a two-foot-wide spreadsheet that gives University of Virginia recruits a look at life after lacrosse.

Ken deRegt, a Morgan Stanley veteran called on to revamp risk-management and the fixed-income trading business after returning in February 2008, is leaving again to join investment firm Canarsie Capital Group.

Wells Fargo added a former Edward Jones advisor in Hudson, Ohio.

Boutique and hybrid models are poised for growth as larger firms cede market share, according to a new Cerulli report