Jan. 2, 2001 The consolidation frenzy among Wall Street firms will likely continue for the next few years, according to a report released by the SIA. In the last year, such U.S. securities giants as PaineWebber, Donaldson Lufkin & Jenrette...
Jan. 4, 2001 Merrill Lynch brokers have applauded the firm’s cost-cutting measures, which included 1,800 layoffs in the brokerage division to reduce the "bloated bureaucracy" that reps say was mushrooming at headquarters.But some of...
Jan. 9, 2001 SEC Chairman Arthur Levitt Jr. yesterday took a swipe at the equity markets in a speech delivered at Stanford University. The commission at the same time released a study purporting to show that Nasdaq spreads are sometimes...
The new work options at American Express Financial Advisors are contributing to the company’s financial weakness. American Express announced April 2 that it expects to post lower earnings (due out April 23), primarily from losses on high...
First Union announced this morning that it is buying Wachovia Corp. and adopting its corporate identity. First Union Corp. will become Wachovia Corp., and First Union Securities will be renamed Wachovia Securities, officials said during a...