Bank & Financial

Magazine articles on banks, brokerages, and credit card companies.

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Registered Rep. December 18, 2002 Rick Weinberg	Supreme Court Favors Arbitration in Brokerage Cases The Supreme Court has reaffirmed its stance that the arbitration forum is the proper venue for deciding brokerage cases.
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. December 11, 2002 Ross Tucker	Merrill Program Seeks to Boost Women and Minority Advisors Executives from Merrill Lynch's global diversity group say the firm has to do a better job in retaining and boosting the performance of women and minority financial advisors.
Registered Rep. December 11, 2002 Will Leitch	Bush Appoints DLJ Founder To Run SEC A month since embattled former chairman Harvey Pitt resigned, President Bush announced plans to nominate William Donaldson, founder of investment bank Donaldson Lufkin & Jenrette to head the Securities and Exchange Commission.
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 1, 2002 Linda Keslar	Hunting the Trophy Client For Wade Evans, prospecting for the high-net-worth client involves trying to hook the biggest fish, literally. Evans, a Baton Rouge, La.-based RIA, drops $20,000 a year to take a few dozen of his biggest clients and most promising prospects on a week-long Cajun fishing expedition.
Registered Rep. December 1, 2002 David A. Geracioti	Arthur Levitt Gives Up the Goods In his new book, the former SEC chairman writes, "Brokers may seem like clever financial experts, but they are first and foremost salespeople." This book by the longest-serving SEC head ever is a kick in the teeth to brokers, Wall Street, corporate executives -- even former colleagues.
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. December 1, 2002 David A. Gaffen	Manning the Phones When wirehouses and other major brokerages introduced the notion of call centers a couple of years ago, brokers were suspicious. Although they understood the logic behind the move, it was a difficult adjustment. But call centers are here to stay and brokers are learning to live with them.
Registered Rep. December 1, 2002 Leitch & Weinberg	Tripping Over Analysts' Feet. Or Your Own. John Tripi, a former Morgan Stanley broker, invested $214,000 in one stock, Copper Mountain Networks. He held it on the advice of his analysts, he says. Guess what? After being fired -- and losing his dough -- Tripi, now a bartender, is suing Morgan Stanley to the tune of $1 million.
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