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Registered Rep.
August 17, 2005
Kristen French |
Gorman to the Rescue? Now that James Gorman has been selected as the future head of Morgan Stanley's retail brokerage, what will he do to turn it around, and can he pull it off?   |
Registered Rep.
September 10, 2009
Kristen French |
Gorman Grabs Morgan Stanley CEO Slot James Gorman, the former head of Morgan Stanley's retail brokerage division and now co-president of the firm, is slated to take over the CEO job in January, 2010. |
Registered Rep.
July 26, 2005
Kristen French |
Morgan Trainee Program Could Get Whacked John Mack is moving quickly to get Morgan Stanley's ailing retail brokerage in shape. |
Registered Rep.
July 21, 2005
Kristen French |
On the Gossip Trail: Mack to Replace Schaefer--But With Whom? When Morgan Stanley announced that the head of its struggling retail brokerage unit was stepping down, Wall Street immediately began speculating about who will be chosen as his successor -- and what that successor might augur for the retail brokerage. |
Registered Rep.
March 1, 2007 |
Gorman Gets It An interview with Morgan Stanley's James Gorman about the improvement in morale at the firm, what it took to get brokers turned around, what he still needs to accomplish and how Morgan is different from the rest of its Wall Street peers. |
Registered Rep.
February 21, 2006
Kristen French |
At Morgan Stanley, the Gorman Era Dawns At Merrill, James Gorman was able to take a top team and make it more effective -- at Morgan Stanley, he inherits a demoralized, decimated sales force that trails its peers in assets under management, productivity and profit margins. |
Registered Rep.
June 1, 2005
Kristen French |
Star Wars Recruiting competition between the top brokerage firms is fiercer than ever, and Morgan Stanley is currently wielding one of the most powerful deals on Wall Street. |
Registered Rep.
September 1, 2005
Kristen French |
Gorman to the Rescue? Morgan Stanley brokers should expect a revolution when James Gorman takes the helm of the retail unit. |
Registered Rep.
December 1, 2005
Kristen French |
Morgan Stanley: Tomorrow Is Another Day In this survey, the management upheaval and culling of broker ranks shows in the grades Morgan brokers give their firm. |
Registered Rep.
July 1, 2006
Kristen French |
James Gorman's First Marking Period In his first four months as head of Morgan Stanley's brokerage unit, James Gorman wasted no time showing that a new regime was in place. But he hasn't convinced all the troops that it's worth sticking around to see how his turnaround plans play out. |
Registered Rep.
June 28, 2005
Kristen French |
Mack as CEO Could be Retail Champion John Mack, the rumored favorite of Morgan Stanley's board for the CEO slot, could be a blessing for the firm's retail brokers if he gets the job. |
Registered Rep.
July 1, 2005
Kristen French |
Apres Purcell--Le Spinoff? Now that Morgan Stanley's CEO has given up, the future of the old Dean Witter organization is in question. Morgan Stanley remains under pressure to improve profitability and its stock price. |
Registered Rep.
July 28, 2005
Kristen French |
Morgan Confirms Trainee, Broker Cutbacks In an internal memo, co-president Zoe Cruz announced the company would reduce the number of trainees it hires to 1,000 in 2006, from 2,400 this year, while continuing to recruit experienced brokers who focus on high-net-worth clients. |
Registered Rep.
March 3, 2006
Halah Tourylai |
Third Wirehouse Coughs Up Millions In Overtime Cases Yesterday, Morgan Stanley became the third wirehouse, after Merrill Lynch and UBS, to settle class action suits with California brokers over overtime pay in the past seven months -- the second in three weeks. |
Registered Rep.
February 9, 2006
Kristen French |
Cruz and Scully Named Morgan Co-Presidents -- With Gorman in the Wings The appointments help clear up an uncertain management picture. The arrival of James Gorman next week as retail chief reporting to Cruz should help even more. Questions still exist, though. |
Registered Rep.
December 21, 2005
Kristen French |
For Morgan Retail, Fourth Quarter a Mixed Bag; More Purcell Directors Resign Despite a number of changes made to improve corporate governance at Morgan Stanley early this year, the board has come in for plenty of heat. The firm continues to lose talent and is paying out the nose to bring on new top producers. |
Registered Rep.
November 18, 2005
Kristen French |
Smith Barney Cuts Pay for Smaller Brokers The new pay scale was announced to brokers internally in October and will take effect in January. |
Registered Rep.
June 30, 2005
John Churchill |
Mack Back, Officially John Mack, former head of Morgan Stanley, returns hoping to quiet employee dissent and questions in the media about the firm's direction. |
Registered Rep.
November 1, 2005
Kristen French |
Bonus Bait Morgan Stanley is planning to offer bonuses to brokers who expand their production in 2006. |
BusinessWeek
September 2, 2010
Moore & Mildenberg |
In the Battle of the Big Brokers, Merrill Is Winning Merrill Lynch earns higher profits with fewer advisers, thanks to a smooth integration with Bank of America and more cross-selling. |
Registered Rep.
March 23, 2006
Kristen French |
Merrill To Gorman: Quit Poaching Our Reps And BOMs Is James Gorman, the new head of retail at Morgan Stanley, brazenly poaching employees from his old firm, Merrill Lynch? A judge apparently thinks so. |
Registered Rep.
August 12, 2005
Kristen French |
Morgan Pink-Slips Brokers, Clients Reassigned New Morgan Stanley CEO John Mack made his first big move on Morgan's rank-and-file this week, instructing branch managers to dismiss approximately 1,000 brokers. |
Registered Rep.
September 13, 2006
Halah Touryalai |
Morgan Joins Inter-Brokerage TRO Pact This firm has officially opted to join the inter-brokerage pact, which stipulates that members will not sue brokers departing to other firms when they try to take their clients with them -- as long as they are moving to another firm named in the pact. |
Registered Rep.
October 1, 2006
Halah Touryalai |
Morgan Joins TRO Pact Morgan Stanley has officially opted to join the inter-brokerage pact, first created in the fall of 2004, which stipulates that members will not sue brokers departing to other firms when they try to take their clients with them. |
Registered Rep.
March 30, 2006
Kristen French |
Gorman Wields Knife Again Yesterday, new Morgan Stanley retail chief James Gorman unleashed a fresh round of cuts -- with more expected shortly -- as part of his efforts to right the faltering brokerage operation. |
Registered Rep.
April 20, 2006
Kristen French |
New Morgan Hire to Advance Dean Witter Integration James Gorman announced in a memo to employees that Donald Herrema will join the company on May 1 as the head of Private Wealth Management Americas, the U.S. and Latin America division of the old Morgan Stanley institutional group. |
BusinessWeek
January 13, 2011
Michael J. Moore |
It's Showtime for Morgan Stanley Morgan Stanley failed to live up to expectations last year; CEO James Gorman doesn't want the losing streak to continue. |
BusinessWeek
July 3, 2006
Emily Thornton |
Mack Attack Buttressed by better earnings, a hungry Morgan Stanley is winning over critics. |
Registered Rep.
November 21, 2002
Rick Weinberg |
Morgan Stanley Firing 950 Brokers Morgan Stanley is firing 950 brokers, according to the various sources. |
Registered Rep.
August 2, 2005
Kristen French |
Mack to Morgan Brokers: `Don't Kiss My Ass' For Morgan Stanley brokers, the kind of flattery that Philip Purcell seemed to demand during his tenure isn't going to work on John Mack. |
Registered Rep.
November 30, 2007
Halah Touryalai |
Morgan Stanley Management Shuffle: Cruz Out, Gorman In Morgan Stanley underwent a major management shakeup yesterday -- effective tomorrow. |
Registered Rep.
March 30, 2006
Kristen French |
Gorman Unrestrained Morgan Stanley retail chief James Gorman was freed by a New York State judge of the temporary restraining order that prevented him from raiding Merrill Lynch's brokerage ranks. |
Registered Rep.
March 16, 2006
Kristen French |
Gorman Streamlines Morgan, Brings on Merrill Friends In his first step as head of retail brokerage at Morgan Stanley, James Gorman has streamlined the firm's regional office structure -- reducing regional offices to four from eight and cutting out one layer of management. |
Registered Rep.
November 10, 2005
Kristen French |
Morgan Stanley Waves Baby Carrot at Sales Assistants The brokerage announced plans to bump up the 2006 raise pool to 3.5 percent, and will offer an additional 5 percent to some underpaid SAs, starting in December. |
Registered Rep.
February 1, 2006
Kevin Burke |
Hired and Fired Up The biggest brokerage businesses are showing that even in a modest market upswing they now have in place a strategy for delivering stronger and steadier sales and earnings growth. |
Registered Rep.
March 9, 2011
Kristen French |
Morgan Stanley Cutting 200-300 FAs And Trainees The firm's wealth management division, Morgan Stanley Smith Barney, should end the quarter with about 17,800 advisors, still the largest brokerage force in the U.S. by headcount. |
Registered Rep.
December 1, 2002
Ross Tucker |
Happy Holidays! You're Fired. The ax will fall at year's end for some 700 of 13,500 Morgan Stanley brokers. Some branches will be closed entirely. |
Registered Rep.
April 8, 2004
Joan Warner |
Trouble In The House That Purcell Built? After suffering through a cruel bear market, Morgan Stanley has come under regulatory scrutiny and legal fire for practices in several key businesses in the past two years, including mutual fund sales. |
Registered Rep.
February 1, 2003
David A. Gaffen |
An Employer's Market It's a hirer's market out there, but brokerage firms have not stopped recruiting. In fact, although it is quieter than usual, many firms are still willing to pony up big bucks in hopes of attracting top-shelf talent. |
Registered Rep.
August 25, 2006
Kevin Burke |
Merrill Fighting Back Against Recent Defections The recruiting war for top brokers remains fierce. The latest evidence of the fight to win million-dollar producers involves the industry's biggest firms. |
Registered Rep.
January 14, 2011
Kristen French |
Some MSSB Advisors Upset by Johnston's Departure Morgan Stanley CEO James Gorman announced Thursday that Greg Fleming, head of the firm's asset management business, will replace Charles Johnston as head of wealth management. |
Registered Rep.
September 22, 2005
John Churchill |
Morgan Stanley's Retail Unit Posts Mixed Third Quarter The company's retail brokerage recorded pretax tax profits of $30 million for the third quarter, a healthy 36% gain over last year, despite a continued exodus of advisors and large legal and regulatory costs. But client assets fell versus the prior quarter, an ominous sign. |
Registered Rep.
March 15, 2004
David A. Gaffen |
Morgan Ups Offer to Prospective Candidates Industry recruiters say the firm has in recent weeks increased the upfront cash offered to top producers, while adding larger bonuses based on the first two years of production. |
Registered Rep.
November 1, 2005
Kevin Burke |
Reshuffling the Decks There is an unusual amount of reorganization afoot, with Merrill, Wachovia, UBS, Morgan Stanley and Smith Barney all shaking up their retail brokerage operations. Some of the moves have direct implications for retail advisors. |
Registered Rep.
December 1, 2005
Kristen French |
Where's My Money? After California brokers won $37 million in an overtime lawsuit against Merrill Lynch in August, a slew of copycat lawsuits have been filed against other brokerage firms, many of them in New York. |
Registered Rep.
October 1, 2002
Rick Weinberg |
Morgan Stanley Boosts Pay for Fee Business Morgan Stanley unveiled a new compensation plan for brokers that rewards fee-based business and penalizes transactional business. |
Registered Rep.
October 1, 2010
John Aidan Byrne |
Who Will be Number One Among the Wirehouses? A good old-fashioned Wall Street fight for retail assets -- and a fierce tussle over which firm can call itself the Number One retail wealth management firm on Wall Street -- is brewing. |
Registered Rep.
March 1, 2005
Mindy Diamond |
Don't Be Dazzled by Prestige Names But just as Harvard is not the best place for every high school valedictorian, private client groups at Goldman Sachs or JP Morgan are not always the best places for an advisor focused on ultra-high-net-worth clients. |
Registered Rep.
March 7, 2011
Jerry Gleeson |
Morgan Stanley May Drop "Smith Barney" From Name Will the Smith Barney name go the way of A.G. Edwards, Bear Stearns, and other brokerages whose historic identities were sublimated following acquisitions by larger firms? |
Registered Rep.
August 10, 2005
Kristen French |
Sources: Morgan Cuts Slated for Thursday Morgan Stanley's human resources department created a performance-based formula for selecting the 1000 people to let go. |
