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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. January 9, 2009 |
Citi: What Sandy Built, Pandit Will Dismantle? The Wall Street Journal is reporting that Citigroup has put Smith Barney up for sale -- or a joint venture.  |
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. March 3, 2008 Christina Mucciolo |
Krawcheck Says Advisors Not Forced Into Wealth Silos: UPDATE Citigroup's reorganization of its private bank and Global Wealth Management division, announced Tuesday, will absolutely not force advisors into silos based on client wealth.  |
Registered Rep. October 5, 2009 Kristen French |
Citi Bank Brokerage Converts To All Fees Citigroup announced that it would convert its small North American bank brokerage business completely to a fee-on-assets-based fiduciary advice system, and would stop collecting commissions on stock and fund sales.  |
Registered Rep. January 12, 2009 Halah Touryalai |
Citi Grabs a Lifeline, Morgan Stages a Coup Despite a $45 billion capital injection from the government in 2008, Citi is in dire enough need of capital that it is planning to spin off its retail brokerage operation, Smith Barney, according to reports, in a joint venture with cross-town rival Morgan Stanley  |
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. September 10, 2003 David A. Gaffen |
Existing Clients Want More Advice The good news for reps is that the world doesn't hate you. The bad news is that acquiring clients -- particularly affluent ones -- is getting a lot more tough.  |
Registered Rep. March 9, 2009 David A. Geracioti |
Trust An Advisor? The fallout from Bernie Madoff's alleged fraud on the financial advisory business might not disappear for a long while.  |
Registered Rep. April 1, 2008 David Geracioti |
Sallie Krawcheck A conversation with Sally Krawcheck, CEO of Citigroup's Smith Barney unit, about the company's recent reorganization.  |
Registered Rep. February 14, 2011 Jerry Gleeson |
Citi's McWhinney Moves to Non-Advisor Unit Deborah McWhinney, president of personal banking and wealth management, will take over a newly-created position as head of global digital merchant acquiring.  |
Registered Rep. July 9, 2009 Churchill & French |
Smith Barney Loses Top Executive, CFO Program To Be Rebranded After just 7 months on the job, Chris di Bonaventura, head of the Citi Family Office group, handed in his resignation.  |
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. April 1, 2010 Halah Touryalai |
Citi's Covert Makeover It's a major shift in business for an entire unit to leap in the fee-only RIA world.  |
Registered Rep. June 27, 2005 Kristen French |
Citi/Legg Deal Strikes Blow at the Heart of Financial Supermarket Concept The recently announced asset swap between Citigroup and Legg Mason could be a sign that the financial supermarket of yore is on its way out, to wit: the separation of asset management and distribution.  |
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. 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.  |
The Motley Fool January 13, 2009 Morgan Housel |
The Future of Citigroup Two big events over the past few days have given investors new reasons to squirm.  |
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. January 26, 2009 |
Citi In The Sky A fair and balanced look at Citigroup's recent purchase of a $50 million corporate jet.  |
Registered Rep. March 1, 2007 John Churchill |
Sallie's Back At first glance, this second coming of Sallie Krawcheck probably looks like a cakewalk compared to her first adventure in 2002. But, make no mistake: Smith Barney is not the awesome brokerage it appears to be on paper.  |
Registered Rep. November 5, 2007 John Churchill |
Questions Surround Citigroup, Smith Barney Solid Citigroup's Charles Prince resigned Sunday night in the aftermath of Citi's horrendous third-quarter earnings report. Prince has been under fire from investors for a long time because the stock consistently lagged behind its peers.  |
Registered Rep. February 11, 2010 Halah Touryalai |
Victory For Broker in Citi Bonus Repayment Case A former Citi broker doesn't have to pay back the full amount owed on his sign-on bonus, a FINRA arbitration panel rules.  |
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. September 22, 2008 John Churchill |
Sallie Krawcheck Out at Smith Barney Sallie Krawcheck, CEO of Citi's global wealth management division, and once considered a potential successor to the CEO role, is leaving the firm.  |
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.  |
The Motley Fool September 18, 2009 Morgan Housel |
Citigroup Hates Its Profitable Assets With Smith Barney divested, shareholders may wonder where profits will come from.  |
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. 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. August 1, 2005 John Churchill |
Should I Stay or Should I Go? When Smith Barney and Legg Mason announced a deal to swap the wirehouse's asset-management business for Legg's brokerage unit, a lot of Legg reps made calls to recruiters and began to prepare for a move. But now, a lot of reps have stopped packing.  |
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. August 7, 2014 Megan Leonhardt |
Ten Charts That Explain What Advisors Think of Hedge Funds Overwhelmingly, advisors consider hedge funds an alternative investment, increasingly a generic catch-all term for anything that is not a mainstream liquid security.  |
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. November 1, 2004 David A. Geracioti |
New Perks for Smith Barney HNW Clients The firm has introduced a new segmentation program designed to offer benefits to clients based on the level of assets they keep.  |
Registered Rep. December 1, 2004 David A. Gaffen |
Sallie Krawcheck Has Left the Building In a move that presages future Citigroup plans, Smith Barney CEO Sallie Krawcheck and Citigroup's CFO Todd Thomson have switched offices.  |
Registered Rep. April 1, 2008 Christina Mucciolo |
Citi Reorganizes For Smith Barney Citigroup announces plans to reorganize its private bank and Global Wealth Management division into four separate units according to client wealth.  |
Registered Rep. January 16, 2009 |
Citi's Global Wealth Mgt Unit: Retail Clients Flee; Merrill Drags Down Everybody knows that Citigroup announced yesterday it was putting itself out of its misery. The failing bank had a whopping $8.29 billion fourth-quarter loss, capping off a horrific year.  |
Bank Systems & Technology February 27, 2009 Maria Bruno-Britz |
Citi and Federal Govt. Reach Agreement Over Ownership Question The deal would allow the feds to play a greater role in the company's operations.  |
Registered Rep. April 1, 2008 John Churchill |
Good Times, Bad Times Shares of the major broker/dealers are getting hammered. The good news is, for those of you who have always wanted to move on, but couldn't because it made you sick to leave unvested options on the table, this may be your moment.  |
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. May 1, 2005 John Churchill |
Class-Action Threat Smith Barney is facing a new round of sex-discrimination suits.  |
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. 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.  |
Financial Planning October 1, 2008 Stacy Schultz |
What's the Alternative? Bank of America Alternative Investment Solutions studies high-net- worth investors' attitudes toward alternative investments.  |
Financial Advisor September 2008 Mary Rowland |
The Great Escape One way brokers are escaping is by forming teams, while they are still at the wirehouses, to provide the base for a ready-made independent business.  |
Bank Systems & Technology March 20, 2009 Maria Bruno-Britz |
Citi's CFO Crittenden to Head Troubled Bank Unit Edward Kelly becomes the new CFO of Citi after the bank's Crittenden was named to lead its troubled Citi Holdings unit.  |
Investment Advisor November 2009 James J. Green |
B/D Briefing: Citi Brokers Switch to Fees Citi Personal Wealth Management announces that the brokers who operate in Citibank branches will change their compensation models immediately from commissions to fees.  |
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. 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. 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.  |