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Registered Rep.
May 1, 2006
John Churchill |
Score One for Diversity UBS has hired a prominent black Smith Barney broker.   |
Registered Rep.
November 1, 2006
Angela Covo |
Skirts Vs. Smith Barney Less than 10 years after they settled the infamous "boom-boom room" case, Smith Barney is being sued for gender discrimination again. |
Registered Rep.
February 23, 2007
Kevin Burke |
Disgruntled Smith Barney Brokers Are Voting with Their Feet Sixty-nine brokers left Smith Barney, just ahead of a three-day weekend. Fridays before a long weekend are historically prime times for unhappy brokers to make a clean break, but the large number of brokers taking off on a single day is alarming. |
Registered Rep.
September 27, 2006
Angela Covo |
Women on Wall Street Still Fighting Discrimination Less than 10 years after they settled the infamous "boom-boom room" case, Smith Barney is being sued for discrimination again. The new lawsuit doesn't include sexual-harassment charges, but does address the economics of gender discrimination. |
Registered Rep.
May 1, 2005
John Churchill |
Class-Action Threat Smith Barney is facing a new round of sex-discrimination suits. |
Registered Rep.
February 1, 2006
John Churchill |
Race Discrimination Cloud Hangs Over Good Year For Merrill Lynch and UBS, allegations of widespread racial discrimination put a damper on an otherwise stellar year for the firms. Both wirehouses were named in separate lawsuits seeking class-action status raised by black brokers who allege a pattern of discrimination at the two firms. |
Registered Rep.
January 9, 2008
Halah Touryalai |
Smith Barney Snags Three Advisors From Rivals Smith Barney has started off the new year right with a recruiting victory. The firm recently hired three Merrill Lynch reps and one UBS advisor. |
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.
October 1, 2006
John Churchill |
Crackberry Addicts Fight Back Run afoul of the law while tapping or yapping into your Blackberry and you may have a case-against your employer. |
Registered Rep.
November 1, 2002
Gaffen & Weinberg |
Brokers React to Citi's Research Move Sallie Krawcheck, former head of independent research firm Sanford C. Bernstein, will head a new business unit of Citigroup that will operate under the name Smith Barney, and include the private client group. Smith Barney brokers are skeptical, though. |
Registered Rep.
July 1, 2006
Mindy Diamond |
Culture Shock Two questions that should be on the mind of regional brokers are: "Would I want to work in a wirehouse, and will it serve my clients' needs?" |
Registered Rep.
December 12, 2006
Halah Touryalai |
Smith Barney Pay Package: Perks Balance Cuts? This week, Smith Barney will become the first firm to make a change to its payout grid as a result of the securities industry's recent battle over broker overtime pay and so-called chargebacks. |
Registered Rep.
March 1, 2006
Halah Touryalai |
Our Diversity Problem Is there rampant discrimination on Wall Street or is it just a few bad apples giving the industry a bad name? Either way, the industry's efforts to hire -- and promote -- women and minorities have not produced impressive results. |
Registered Rep.
February 6, 2003
Ross Tucker |
UBS Continues to Attract Talent UBS PaineWebber recently lured six more high-producing reps into its fold, offering further evidence that the firm is engaged in one of the Street's most vigorous recruiting campaigns. |
Registered Rep.
March 1, 2006
Kristen French |
Broker Fights for His Reputation--and Wins (Some of It Back) Philip Spartis, a former highflying Salomon Smith Barney broker, last week won a $1 million defamation judgment against lawyer Stuart Goldberg in an Arizona court. |
Registered Rep.
January 1, 2005 |
Comings & Goings Merrill Lynch has hired Michael O'Keefe... Tom Matthews, president and CEO of Smith Barney's global private client group, has retired... Oppenheimer continues to hire brokers... etc. |
Registered Rep.
December 1, 2002
David A. Gaffen |
Light A Candle, or Curse the Darkness For brokers and financial advisors, 2002 may be remembered as the year in which those who knew they had the right stuff redoubled their efforts to elevate their skills and become the kind of advisors who could survive the bear market and build a 21st century practice. |
Registered Rep.
December 4, 2002
Rick Weinberg |
Weill Postpones Elimination of Salomon Name Sandy Weill, the chairman of Salomon Smith Barney's parent Citigroup, has informed brokers and other employees that plans to eliminate the Salomon name, a Wall Street hallmark for nearly a century, have been postponed, according to sources. |
Registered Rep.
April 1, 2007 |
Comings & Goings Charles Schwab Corporation has named Walt Bettinger president and chief operating officer... UBS hired Greg Jones as head of diversity for UBS Wealth Management... etc. |
Registered Rep.
November 29, 2006
Halah Touryalai |
Merrill Lynch to Pay National Overtime Settlement The financial firm has decided to consolidate the numerous overtime lawsuits that have been filed against the firm and settle nationally with its brokers. |
Registered Rep.
October 30, 2008 |
Merrill's Retention Package: Just For White Guys? Stowell & Friedman, a Chicago-based law firm, files a suit against Merrill Lynch claiming African-American and female brokers at the firm have been largely excluded from its retention-bonus plan. |
On Wall Street
December 1, 2008 |
Who's News Staffing announcements from wirehouses and regionals from the December 2008 issue. |
Registered Rep.
March 1, 2003
Will Leitch |
CAP and Frown A long-running dispute over a Salomon Smith Barney Capital Accumulation Plan (CAP) is going to trial. |
Registered Rep.
May 30, 2003
David A. Gaffen |
The New Smith Barney CEO Sallie Krawcheck was recruited to restore the credibility of Smith Barney and lead the business through its toughest slump in a generation. Krawcheck wants Smith Barney advisors to more than double their average annual production to $1 million. |
Registered Rep.
October 1, 2002
Rick Weinberg |
Brokers Fear Arbitration... With arbitration cases on the rise, many brokers are worried about the prospect of being dragged through a legal process that, because of the current environment, some believe is heavily slanted toward the client. |
Registered Rep.
April 29, 2008 |
Citi Hedge Fund Blow Up Hurts Clients--And Sends Advisors Packing While Smith Barney tries its darnedest to hold on to the money of its wealthy clients, it's also having a hard time keeping some of its best brokers. |
Registered Rep.
November 1, 2002
David A. Geracioti |
Looking for Work -- On the QT Are you a broker looking for a job, but afraid you'll be found out? A new Web site, privateclientpro.net, provides a fast, anonymous and comprehensive listing of opportunities. |
Registered Rep.
August 31, 2010
John Aidan Byrne |
UBS Beefs Up Alt Investments for Risk Reduction Jerry Pascucci, a former Morgan Stanley Smith Barney executive, is joining UBS Wealth Management Americas on September 7 as head of alternative investments, according to an internal memo obtained by Registered Rep. |
Registered Rep.
December 1, 2005
Halah Touryalai |
Smith Barney: New Focus On the Horizon While most Smith Barney advisor respondents were generally unimpressed by the acquisition of Legg advisors, it'll be interesting to see if Smith Barney's jettisoning of its asset management group -- and resulting new focus on retail distribution -- will rejuvenate the firm. |
Registered Rep.
April 17, 2009
Halah Touryalai |
Smith Barney Losing Advisors, Client Assets But while Smith Barney is losing reps, it also appears to be recruiting heavily. |
Registered Rep.
May 7, 2007
Christina Mucciolo |
Smith Barney Closes a Few Offices, Prepares to Consolidate Others The firm prepares to consolidate as part of a larger cost-cutting program in the works at parent Citigroup. |
Registered Rep.
July 14, 2008
Halah Touryalai |
Morgan Stanley Offers $50 million In Overtime Settlement The settlement covers all financial advisors, trainees, producing branch managers, assistant branch managers and sales managers who live outside of California and were employed with the New York-based firm between Sept. 1, 2002, and April 21, 2008. |
Registered Rep.
December 11, 2002
Rick Weinberg |
PaineWebber Cuts Bonuses, Expense Accounts Brokers at UBS PaineWebber received a double hit of bad news this week in this tough time for brokerages. Not only were they informed that the bonuses they receive for bringing in new assets were being cut, but expense accounts are being trimmed as well. |
Registered Rep.
August 26, 2003
David A. Gaffen |
Smith Barney Settles On WorldCom; Spartis, Elias Continue Fighting A million dollars. That's the amount brokerage firm Smith Barney agreed to pay in a settlement with the New York Stock Exchange in an investigation of improper conduct at an Atlanta branch of the firm related to WorldCom employee/shareholders. |
Registered Rep.
April 1, 2005 |
Comings & Goings UBS has brought in two top-producing advisors... Bank of America's global wealth and investment management division has named executives... etc. |
Registered Rep.
February 24, 2012
Kristen French |
Due Diligence: Seven Years Later, Merrill Broker Discrimination Class Action Gets go Ahead The lawsuit will go to court in April, and then the judge will set a date for trial. |
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.
June 1, 2004 |
Comings & Goings David Harris moved to UBS Securities from Smith Barney... UBS Securities lost a broker to upstart wealth manager Mercury Wealth Management... Carol Rogers recently moved to Linsco/Private Ledger from Wachovia Securities' FINet system... etc. |
Registered Rep.
March 1, 2006
John Churchill |
To the Bitter End How a veteran Smith Barney broker is fighting to keep deferred compensation after leaving the firm to become an independent RIA. |
On Wall Street
March 1, 2010 |
Who's News Merrill Lynch hires father-and-son team... Morgan Stanley recruits Carlos Van Maanen and Carlos Stolk... Emerson Knowles and Joseph Spicer leave Morgan STanley to join Merrill Lynch... RBC Wealth Management hires John Menefee and Tom Meagher... etc. |
Registered Rep.
September 8, 2006
Halah Touryalai |
Merrill Discrimination Suit Moves Forward After Failed Settlement Talks The racial-discrimination suit against Merrill Lynch is under way again after settlement talks between African-American brokers and the firm came to a halt in early June. |
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.
April 18, 2007
Halah Touryalai |
Chuck Prince: Smith Barney Goin' Nowhere Citigroup's CEO has been at the center of company news recently with his plans to cut costs including last week's announcement of about 17,000 job cuts. That cut may affect over 100 Smith Barney employees and about 30 advisors. |
Registered Rep.
June 1, 2006
Kristen French |
Hungry for Hires Wachovia hired a whopping 900 reps in 2005, bringing the total to 10,400, and aims to add the same number in 2006, including around 100 rookies. |
Registered Rep.
August 10, 2004
David A. Gaffen |
Fleeing Brokers Can Take Some Client Info Three of the nation's largest brokerage firms have agreed to make it easier for registered reps to take clients with them when they change firms, eliminating a lot of the cloak-and-dagger antics that brokers often suffer when making a move. |
On Wall Street
October 1, 2008 |
Who's News Staffing announcements from wirehouses, regionals and private banks. |
Registered Rep.
September 3, 2010
John Aidan Byrne |
UBS Hires Four HNW Advisors The latest hires by UBS Wealth Management Americas reflect its goal of attracting business from the ultra rich in mostly major metropolitan markets in the United States. |
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.
October 23, 2003
David A. Gaffen |
Spartis Cleared In Failure to Cooperate Charge Former Smith Barney broker Phil Spartis, who was responsible for overseeing the options exercise program for WorldCom employees, has been cleared of a charge brought against him by the New York Stock Exchange. |
Registered Rep.
April 1, 2003
David A. Gaffen |
Your Book or Your Life! What would you do if you lost your book? Where would you turn for new customers? Where could you be hired? Those are questions that keep many advisors up at night. |
