Wirehouses

"I think to just look at numbers on Wall Street and say, 'It looks like it's struggling' -- it's contracting in a very healthy way," said fomer Morgan Stanly Executive Bob Auer. "It's almost like a big fat guy that is losing weight. To say, 'Oh, he's just not the same guy…' No -- he's getting healthier and better."

Janney has picked up a former Morgan Stanley duo with over $1.5 million in production.

To bring alternative investments to a wider investor base, Goldman Sachs Asset Management has launched the Goldman Sachs Multi-Manager Alternatives Funds.

JPMorgan Chase & Co., Goldman Sachs Group Inc. and the world's largest banks won rollbacks in final Dodd-Frank Act rules that promise to transform the private swaps market by increasing competition.

Sallie Krawcheck, the former senior executive at Bank of America Corp. and Citigroup Inc., agreed to buy 85 Broads, the global network with 30,000 members that promotes women as business leaders.

Thomas Welch knows there’s a better chance he will be fired than retire. So he spent his vacation interning at Merrill Lynch Wealth Management to prepare for a second career to sustain him for the next 40 years.

Breaking into the brokerage business is getting tougher as declining fees make small accounts less profitable and government restrictions on unsolicited calls make phone sales taboo. That’s leaving big firms struggling to replace a retiring generation of advisors.

Goldman Sachs has filed to launch the Multi Asset Real Return Fund. The fund seeks real return by investing in inflation-sensitive assets.

Goldman Sachs has been “deficient” in linking compensation to company performance, Glass Lewis said in a report, which also opposed the re-election of compensation committee Chairman James A. Johnson. ISS said in a May 8 report that shareholders should vote for Johnson at the New York-based bank’s May 23 annual meeting.

Morgan Stanley is expanding the types of debt it buys as deposits increase with the purchase of its brokerage venture and interest rates remain near record lows.

The new hires join the firm in Jackson, Tenn., and Mount Kisco, N.Y.

Merrill Lynch Wealth Management has tapped Ashvin Chhabra to serve as chief investment officer and head of Investment Management and Guidance.

Credit Suisse Group AG sued its former vice president of emerging markets, Agostina Pechi, over claims she stole the bank’s trade secrets in a bid to win clients for her new employer, Goldman Sachs Group Inc.

UBS plans to move out of almost three-quarters of the space it rents at Manhattan’s 299 Park Ave. as it seeks to reduce real estate costs, but the company intends to keep some wealth-management operations in place while moving its investment-banking department to another location.

UBS AG is always looking at all shareholder suggestions, Chief Executive Officer Sergio Ermotti said, after investor Knight Vinke Asset Management LLC called for a spinoff of the lender’s investment bank.

UBS promotes regional director John Mathews to help capture growth in the ultrahigh-net-worth market.

UBS AG should consider splitting its investment bank from the wealth management and Swiss banking businesses, shareholder Knight Vinke Asset Management LLC said.

Independent broker-dealers and RIAs have the edge over wirehouses when it comes to adding mutual fund assets under management, according to Access Data and Strategic Insight.

UBS Wealth Management Americas posted a record profit in the first quarter as it recorded its strongest net new money inflows and cut expenses.

UBS AG reported first-quarter earnings that beat analyst estimates on higher revenues at the investment bank and in wealth management.