Wirehouses

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.

Morgan Stanley, the Wall Street bank with the biggest trading-revenue increase last quarter, lost money in that business on eight days in the period, down from 31 days a year earlier.

UBS Wealth Management Americas has picked up a trio of Morgan Stanley Wealth Management advisors, as Morgan Stanley has snapped up a new advisor from Chase Investment Services.

The firm hit $19.9 billion in AUM in the third quarter of 2012, an 18% jump from $16.8 billion in the third quarter last year. Most of the increase came from new client inflows.

Goldman Sachs Group Inc., which is scheduled to announce its new class of partners next week, has 407 members of that elite group, down 31 in about nine months, according to a company filing.

A win by Mitt Romney in tomorrow’s U.S. presidential election is more likely to boost Wall Street compensation than if voters re-elect President Barack Obama, according to a survey conducted by eFinancialCareers.

Mid-sized banks that mostly let Wall Street and small firms speak for the industry during the debate over the Dodd-Frank Act have decided it’s time to carve out their own agenda in Washington.

Pulling from Wells Fargo and Raymond James, the firm has added three advisors with over $200 million in AUM.

Wall Street turned to Bordeaux, sushi and faxes as Hurricane Sandy wreaked the most havoc in the history of the city’s transit system and closed stock markets on consecutive days for the first time for weather since 1888.

In any kind of “normal” flood, water would never reach 80 Pine St., a 39-story tower two blocks inland from the lower Manhattan waterfront, landlord William Rudin said. Last night, his Rudin Management Co. was pumping out the basement, and he was grateful the building manager and engineer weren’t seriously hurt when water poured in as they were shutting down steam lines and checking equipment.

As Hurricane Sandy makes landfall in the U.S., wealth management operations of major financial firms including Bank of America, Morgan Stanley and Wells Fargo have shut down certain offices to prepare for the storm, while keeping their advisors in touch with clients remotely.