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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.
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.
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.
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.
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 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.
March 17, 2008
Christina Mucciolo |
Morgan Stanley Reorganizes Wealth Management Unit This is the second reorganization the firm has seen since James Gorman took the helm of the GWM division in February 2006. |
Registered Rep.
December 1, 2005
Kristen French |
Morgan Brokers Still Heading for Exits There has been a parade of top brokers who have left Morgan Stanley in recent months. The losses, which began under embattled former CEO Phil Purcell, have not abated since his replacement, John Mack, arrived in June. |
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.
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.
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.
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.
September 20, 2005
John Churchill |
Merrill Cutting Top Brass Merrill Lynch, famous for its seemingly continual reorganizations, is at it again. Specifically, the firm is firing half of its regional directors, sources say. |
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. |
Registered Rep.
February 19, 2010
Jerry Gleeson |
Merrill Hires Executive from MSSB A senior executive at Morgan Stanley Smith Barney has jumped ship for Merrill Lynch. Jimmy Tighe, former New York City regional director for Morgan has been hired by Merrill as managing director and business & resource integration executive at Merrill Lynch Wealth Management. |
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. |
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.
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. |
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.
June 1, 2006
Kristen French |
Morgan's Training Makeover Morgan Stanley is in the midst of a major redesign of its rookie training program, the latest in a string of moves by retail head James Gorman to revamp the brokerage operation and make it more profitable. |
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.
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.
March 22, 2006
Kristen French |
Morgan Sees Weak Retail First Quarter Followed by Brighter Future Morgan Stanley reported bad news on first quarter retail earnings today. Both pre-tax income and margins declined steeply for its brokerage business, but in a conference call this morning chief financial officer David Sidwell expressed optimism about the future of the business unit. |
Registered Rep.
February 24, 2006
Kristen French |
Morgan Grants Stock Worth $29 Million to Gorman The grant mostly goes to replace compensation the new retail brokerage head would have earned at his previous job with Merrill Lynch, but didn't because of his resignation, according to the firm's regulatory filing. |
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.
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.
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.
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.
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 9, 2004
David A. Gaffen |
Mulholland Leaves as Co-Head of Merrill's U.S. Group Bob Mulholland, second-in-command in Merrill Lynch's brokerage unit, has surprisingly left the firm for retirement. |
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.
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.
November 1, 2005
Kristen French |
Bonus Bait Morgan Stanley is planning to offer bonuses to brokers who expand their production in 2006. |
On Wall Street
November 1, 2012 |
Who's News: Michael Maghini Moves to Bank of America Hirings this month include Michael Maghini moving to Bank of America Merrill Lynch from Morgan Stanley; Mark Rabbe to RBC from UBS; Al Weaver and John Worcester to Ameriprise from Morgan Stanley. |
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.
June 1, 2009
David Geracioti |
Can You Say, "Morgan Stanley Smith Barney?" The Joint Venture Launches Today The deal merging Citi's brokerage (Smith Barney) with Morgan Stanley's Global Wealth Management Group is closed -- ahead of schedule. |
Registered Rep.
January 13, 2009
David Geracioti |
Citi, Morgan Stanley Agree To Form Joint Venture; Reps Will Receive Retention Bonus--Gorman Says: "We're Not Stupid" The combined retail brokerage units will become the largest financial services firm in the world and be a "force to be reckoned with." The combined entity will have more than 20,000 Financial advisors and an estimated $1.7 trillion in client assets. |
Registered Rep.
May 1, 2005
Will Leitch |
So They've Got That Going for Them...Which Is Nice For all the problems it's been having in the last several months, Morgan Stanley can hang its hat on this good news: It is now the largest securities firm in the country. |
On Wall Street
January 1, 2011 |
Recruiting's Next Big Challenge A conversation with industry headhunters about the job market for financial advisors. |
Registered Rep.
January 1, 2007
Halah Touryalai |
Riding High It was a fine year for brokerage firms -- especially their stocks. No one came up bigger than Goldman Sachs and Morgan Stanley in terms of percentage gains. |
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.
February 4, 2003
David A. Gaffen |
Complexing Issue: Morgan Stanley Creating Bunches of Branches Morgan Stanley is requiring that an increasing number of its branch office managers begin producing. The move is an outgrowth of its office "complexing" strategy, which groups together multiple branches under a single manager. |
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.
July 21, 2011
Kristen French |
Morgan Stanley Plans More Cost-cutting in Retail Brokerage; Integration on Target, Net Asset Flows Up Morgan Stanley financial advisors should expect more cost-cutting in the global wealth management division in coming quarters. |
Registered Rep.
January 20, 2010
Halah Touryalai |
Wealth Management Has Strong Fourth Quarter At Morgan, BofA Neither Morgan Stanley Smith Barney nor Bank of America ended 2009 with a bang in the earnings department. But their wealth management units were pockets of strength. |
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.
June 27, 2006
Kevin Burke |
You Leaving Me?--Mother Merrill Asks Some Top Producers If They're Fixin' to Depart If you are one of Merrill Lynch's best financial consultants and you have been flirting with other brokerages or financial-planning firms, watch out: You could get hit with a Merrill loyalty statement. |
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. |
