Wirehouses

Wall Street firms turned out in force Tuesday night to celebrate a political development that for some hit close to home: the one-year anniversary of the repeal of the "Don't ask, don't tell" policy for gays serving in the military.

Viniar, whose 12 years in the role make him the longest- serving CFO on Wall Street, will be succeeded by Harvey M. Schwartz, 48, one of three global co-heads from the sales and trading division, the New York-based bank said in a statement yesterday. Goldman Sachs will add Viniar, 57, as well as some independent directors to the 10-member board, the firm said.

William Steward, a former accountant in product control for UBS AG, said he began looking into trades by Kweku Adoboli in August 2011 after receiving a report of a $3.57 billion discrepancy.

Robert W. Baird & Co. has hired R. Parker Griffith from Morgan Stanley Smith Barney to manage its Nashville wealth management office and serve as financial advisor.

A Florida federal court rejected Merrill Lynch's petition to vacate an arbitration decision on Monday, clearing the way for two financial advisors to receive a $10.25 million awarded to them in April.

Citigroup Inc.'s $4.7 billion pretax writedown of its Morgan Stanley Smith Barney stake probably won't reduce a profit-sharing plan's award for Chief Executive Officer Vikram Pandit that could total $24 million.

J. Kevin Stophel has moved on after 13 years with the firm to establish an independent wealth practice partnered with Concert Advisor Services and Concert Wealth Management Inc.

Wells Fargo Advisors has tapped an executive from Citigroup and two of its existing leaders to serve in new senior leadership roles.

President Obama will likely win a second presidential term in November, but the election's outcome for policy and investing will likely not be as decisive, according to a research report released Wednesday by UBS Wealth Management Americas.

The U.S. Court of Appeals in Chicago today affirmed U.S. District Judge Robert Gettleman's decision last year to throw out the complaint filed against Merrill Lynch and Bank of America Corp. The Charlotte, North Carolina-based lender acquired the securities firm for $33 billion in 2009.

Wells Fargo Advisors has extended its summer hiring spree with the addition of two Morgan Stanley Smith Barney advisors with $127 million in client assets under management.

Morgan Stanley and Citigroup have agreed to a $13.5 billion valuation of Smith Barney that clears the way for Morgan Stanley to complete its acquisition of the brokerage business by June 2015.

The Kentucky-based firm has hired a former Merrill Lynch advisor with $29 million in AUM.

Following news that Merrill Lynch Wealth Management lost several advisor teams to rivals this week, the firm is pushing back with three advisor hires of its own from competing wirehouse firms.

Firms need to foster real loyalty between themselves and their investor-clients, especially if advisors continue to leave, says Arthur Levitt, the former chairman of the SEC.

Robert Ceccarelli and John Hursh collectively manage more than $148 million in assets and produce nearly $1 million in revenue. They will join Ameriprise's employee advisor channel and be located in the New Haven, Conn.

The Robinson Reuter Group brings $250 million in assets under management to RBC's La Jolla, Calif., office.

Barclays Plc recruited a team for its wealth and investment management division from Morgan Stanley Smith Barney that includes former New York Jets wide receiver Wayne Chrebet.

A group of financial advisory teams in Oregon, led by Brett Davis, Steve Altman, Todd Gescher, and Jason Herber, have combine to form True Private Wealth Advisors.

MNA Group and Anderson & Delutri are the ninth and 10th teams to join HighTower this year, and the 34th and 35th teams to enter into the partnership since its inception. Both teams were previously part of Bank of America Merrill Lynch.