Wirehouses

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.

UBS AG, Switzerland’s largest bank, will cut as many as 10,000 jobs companywide as the trading business shrinks, a person with knowledge of the plan said.

Citigroup Inc. and Goldman Sachs Group Inc. are among Wall Street firms planning to shift operations to other cities and have staff work from home as Hurricane Sandy’s arrival in New York forces evacuations.

Wells Fargo Advisors Financial Network has added four practices. With these advisors its independent brokerage arm, FiNet, has over 1,100 owners and advisors in more than 540 practices, with over $55.5 billion in assets under management.

Two investment teams from Merrill Lyncch have joined RBC's Leadwood, Kan., office.

The firm hopes that Karein Heintz can help grow its presence in the twin cities.

Picked up in a renewed focus on recruiting, Mark Teed joins Raymond James in Massachusetts.

Goldman Sachs Group Inc.’s decision to provide some of former employee Greg Smith’s performance reviews to the media may scare staff at the firm about the privacy of their own reviews, Smith said.

Almost one in two consumers (47%) say they keep the majority of their assets with banks, up from 44% in 2011. Self-directed firms and full-service brokers, in contrast, had only 28% and 15% of the market, respectively.

Goldman Sachs Group Inc. changed how it calculated year-end bonuses in 2005, corrupting a culture of teamwork that existed previously, according to a book published today by former employee Greg Smith.

Bank of America Corp., the lender that got a $5 billion boost from Warren Buffett last year, now has the “top capital” among peers and is capable of paying a bigger dividend, said Chief Executive Officer Brian T. Moynihan.