Morgan Stanley Trims Investment Bank’s Compensation Pool 14%
Morgan Stanley (MS), owner of the world’s biggest brokerage, set aside $1.89 billion to pay employees at its investment-banking and trading division in the first quarter, 14 percent less than a year...
View ArticleConvergEx to pay more than $150 mln to settle U.S. charges
WASHINGTON, Dec 18 (Reuters) – Brokerage company ConvergEx Group LLC will pay more than $150 million to resolve criminal and civil charges that some of its subsidiaries and two former employees...
View ArticleOnline Brokerage Firm E*Trade Financial Suffers Outage
E*Trade Financial Corp.’s online trading system shut down on Wednesday, frustrating customers and raising fresh questions about the security of electronic marketplaces. At about 10:30 a.m. EST,...
View ArticleMorgan Stanley to Join Institutional, Brokerage Muni Desks
Morgan Stanley (MS), owner of the world’s largest brokerage, said it will combine the municipal bond trading desks of its institutional business and wealth-management units. The joint venture will be...
View ArticleNew Morgan Stanley brokerage sales chief reorganizes leadership
Six weeks after being named to lead Morgan Stanley’s brokerage force of more than 16,000 financial advisers, managing director Shelley O’Connor has streamlined the sales organization and replaced some...
View ArticleICAP CEO Says Some Brokerage-Market Parts Show ‘Drought’
ICAP Plc (IAP) Chief Executive Officer Michael Spencer said parts of the brokerage market will continue to grapple with the worst “drought” in at least 30 years. “We’re moving into a world where the...
View ArticleClik here to view.
Wall Street watchdog puts spotlight on firms hiring risky brokers
(Reuters) – Wall Street brokerages that hire stockbrokers who have a track record of misconduct should expect to show examiners how they will curb future wrongdoing, the industry’s watchdog said on...
View ArticleClik here to view.
China’s Citic Buys Stake in U.S. Brokerage BTIG
Citic Securities Co. (600030), China’s largest brokerage by market value, acquired a stake in U.S. firm BTIG LLC as it seeks a bigger foothold in offering equities trading for overseas institutional...
View ArticleClik here to view.
Bank of America Chips Away at Brokerage Industry Truce
For the last decade, Wall Street brokerages have had a pact not to sue brokers that leave their firms and try to take clients with them. Now Bank of America BAC.N MerrillLynch, one of the founding...
View ArticleClik here to view.
China investigates securities brokerages amid turmoil
A number of brokerage employees, current and former members of the regulatory commission, and a financial journalist are also being investigated for misconduct. China’s volatile stock market dropped...
View Article
