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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. 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 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. 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. April 21, 2010 Jerry Gleeson |
Morgan Stanley Profits Rise, Advisor Count Flat Morgan Stanley on Wednesday reported higher-than-expected revenues and profits in the first quarter, lifted by its acquisition last spring of Smith Barney and by higher fixed income.  |
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. 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. 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.  |
On Wall Street February 1, 2010 Frances A. McMorris |
When Firms Collide: Is Culture Clash Inevitable? Merged companies have been integrated and new executives have taken up their posts, but everyone is still trying to adjust.  |
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. 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. June 21, 2006 Kristen French |
Morgan Stanley Retail Reports Second-Quarter Gains Finally, some good news for Morgan Stanley's retail brokerage. The unit reported strong second-quarter gains Wednesday, including an impressive surge in advisor productivity, which hit an all-time record for the firm.  |
Registered Rep. February 9, 2007 Kristen French |
Morgan Stanley to Simplify Financial Planning for FAs Among other initiatives for 2007, Morgan Stanley is planning to upgrade its financial-planning offering for retail advisors -- and apparently it's overdue.  |
Registered Rep. November 3, 2006 Kristen French |
Morgan Tinkers with Grid; Wants FAs to Aim High James Gorman announced the rollout of a new compensation program that will greatly increase the firm's spending. But, in an effort to get reps to think big, accounts below $50,000 will no longer generate any compensation for the rep.  |
Registered Rep. March 8, 2012 Kristen French |
Due Diligence: Morgan Stanley Advisors Paid to Put Clients in New Amex Credit Card Morgan Stanley Smith Barney financial advisors and client service associates will get a "small" amount of compensation for the administrative process of handling card sign up.  |
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 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. 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. 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. October 20, 2010 Kristen French |
Morgan Stanley Q3 Earnings Dive 67%, Wealth Management Is Most Profitable Division Morgan Stanley Smith Barney dunked into the red in the third quarter, with earnings falling 67 percent to 5 cents a share, due to a sharp decline in the firm's institutional securities business.  |
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. December 1, 2006 Kristen French |
Morgan's New Comp Plan Morgan Stanley retail head James Gorman announced the rollout of a new compensation program for 2007 -- one that will increase the firm's spending on compensation by millions of dollars. But the plan will also eliminate any compensation to reps on accounts below $50,000.  |
Registered Rep. August 26, 2010 John Aidan Byrne |
Neck And Neck, Morgan and Merrill On Hiring Sprees Both firms say they plan to add net financial advisors in 2010, adding to stated plans to sign up 2,000 trainees each this year.  |
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. October 22, 2009 Christina Mucciolo |
MSSB Plans to Double Size of U.S. Division For Ultra Wealthy Morgan Stanley Private Wealth Management will exclusively serve clients with a minimum of $20 million in assets.  |
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. 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. 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. 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. May 25, 2011 Lauren Barack |
Morgan First On Wall Street to Crack Social Media Code Morgan Stanley is in the process of testing a pilot program that would allow its financial advisors to interact with clients and others on social media websites Twitter and LinkedIn.  |
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 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. 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. April 21, 2011 Kristen French |
Morgan Stanley Wealth Management Assets Up, Headcount and Margins Down Morgan's other two divisions -- institutional securities and asset management -- recorded declines in income and revenues.  |
Registered Rep. December 8, 2015 |
2015 Broker Report Card: Show Me The Money Advisors' gross production varied widely by firm in this year's survey results.  |
Registered Rep. February 23, 2009 Christina Mucciolo |
Morgan, Smith Barney Reps Get Retention Awards, NOT Bonuses Top producers at both firms stand to receive as much as 105 percent of trailing twelve month production to stay with the joint firm.  |
Registered Rep. January 20, 2011 Kristen French |
Morgan Stanley Says Integration On Track, Wealth Managment Revenues Up 7% Morgan Stanley CEO James Gorman and CFO Ruth Porat said they are pleased with the progress of integration in the wealth management division, a joint venture with Citigroup in its spun-off Smith Barney division, as well as its performance.  |
Registered Rep. December 3, 2013 Megan Leonhardt |
Out From Under A rising market lifts many spirits, including advisor satisfaction with the firm that employs them.  |
Registered Rep. December 18, 2007 John Churchill |
Ellyn McColgan, Late Of Fido, Joins Morgan Stanley Ellyn McColgan, once seen as a possible successor to Ned Johnson as CEO at Fidelity Investments, has been picked to take the helm of Morgan Stanley's Global Wealth Management Group.  |
Registered Rep. November 29, 2007 Christina Mucciolo |
Morgan Stanley in the EEOC's Sights on Age-Discrimination? The EEOC is investigating claims made by former Morgan Stanley advisors that the firm discriminated against older workers when it laid off 1,000 financial advisors back in 2005.  |
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. 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. 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. August 29, 2010 Jerry Gleeson |
Merrill, MSSB Invest in New Technology Wirehouse firms continue to upgrade their advisor workstation technology following the recent consolidation among firms.  |
Registered Rep. February 3, 2010 Kristen French |
Merrill Plans Trainee Hiring Spree Bank of America plans to rebuild its brokerage force in 2010 by adding rookie advisors rather than competing for talent in the industry's expensive recruiting war.  |
Registered Rep. July 22, 2013 Mindy Diamond |
The Long Road Home Wirehouse firms are recruiting more independent advisors to their ranks than ever before.  |
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. 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.  |
On Wall Street May 1, 2011 Lorie Konish |
Morgan Stanley Smith Barney Sharpens Its Focus With the two-year anniversary of the creation of Morgan Stanley Smith Barney, the industry's largest brokerage business continues to take shape.  |