Wirehouses

Wells Fargo has extended its summer hiring spree with 24 new financial advisor hires managing a total of $2.2 billion in assets.

More than half (55%) of Americans age 53 – 65 say they plan to continue working full-time as long as their health permits, up from 51% last year.

Wall Street firms must slash pay and headcount and shed almost a third of their trading-business assets to earn even half the returns they once made, according to Sanford C. Bernstein analysts.

The annual promotions, which take effect Jan. 1, come one day after New York-based Goldman Sachs named 70 people to its so-called partnership, the fewest since the firm became a public company in 1999. Partners, also called participating managing directors, receive a higher salary than managing directors and share in a special bonus pool.

Goldman Sachs Group Inc. named 70 employees to join its so-called partnership, the fewest in the firm’s 13 years as a public company, as sluggish revenue growth pressures expenses.

Sovereign Investment Group, a Texas independent wealth management firm, announced Wednesday it hired Michael Koletar as a senior vice president of investments for its wealth management team.

Merrill Lynch has added industry veteran Daniel Sandlin from Morgan Stanley.

The firm has added a team with over $500 million in production to its southern California offices.

Despite the volatility of the last few years and the continued economic malaise in much of the developed world, global stocks are still attractive, according to executives at Morgan Stanley.

Bank of America Corp. salespeople assigned to the world’s biggest stock portfolio managers were given new orders by their boss in September: attend at least 30 meetings a month with clients, or else.

Wells Fargo Advisors has promoted David Kowach to serve as president of the firm’s Private Client Group.

Many talented individuals are getting hired on Wall Street. But while it is great to hear that others are doing well, the first thing every job seeker wants to know is this: "How can I be one of them?"

Bank of America Corp.’s commercial customers are already reacting to the “fiscal cliff” looming over the U.S. budget by putting off purchases, Chief Executive Officer Brian T. Moynihan said.

Goldman Sachs Group Inc. Chief Executive Officer Lloyd C. Blankfein, grappling with a market slump that is putting trading earnings under pressure, said “sometimes cycles can last a very long time.”

Goldman Sachs Group Inc. plans to exit the South Korean asset management business amid sluggish global stock markets, according to three people with knowledge of the situation.

A career advisor with three-and-a-half decades of experience, Karl Rothermund has left Morgan Stanley for Raymond James in Scottsdale, Ariz.

After arming certain financial advisors with new designations aimed at winning more 401(k) consulting business this year, Bank of America Merrill Lynch says that that bet is paying off.

The firm has hired Harold Langer, a three-decade industry veteran, to be senior vice president at the Tucson branch.

It is “a fantastical suggestion” that the bank and its management knew and approved of Adoboli exceeding risk limits, prosecutor Sasha Wass told the London jury in closing arguments Thursday.

Advisors can calm clients who wanted a Romney victory.