Morgan Stanley wants to pay out a smaller portion of wealth management revenue to the retail brokers who generate it, the final and perhaps most difficult front in Chief Executive James Gorman's drive to reduce staff costs across the bank.
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 key executives.
Barclays is shaking up the way it pays its U.S. financial advisers, breaking with industry practice as the bank seeks to clean up its image.
Wall Street is getting a little long in the tooth.
Unions are threatening to ballot for strike action at HBSC after the UK's biggest bank warned 3,166 staff that their roles were at risk of redundancy.
Brokers who switch firms would be compelled to tell customers about any recruiting bonuses and other incentives received under rules proposed by industry regulators to protect clients from conflicts of interest.
Like many employees, second-guessing your boss or company is a game that financial advisers at the big Wall Street firms play, too.
Phoenix Marketing International, one of the top research companies in the U.S., has announced the addition of a social networking module to its syndicated programs conducted at least monthly across the financial services industry in Canada, Europe, the UK and the US.