Hilton raised roughly $2.34 billion in its IPO on Wednesday after pricing shares toward the high end of its range.» Read More
NEW YORK, Dec 5- Morgan Stanley is offering its brokers an unusual pay incentive over the next two years to convince certain clients to disclose assets held outside the firm, according to the firm's 2014 compensation plan unveiled this week.
Rob Mawhinney desperately wanted to become a rockstar. Instead, he found fame when he pleaded guilty to money laundering and loan fraud.
NEW YORK, Dec 4- The 2014 compensation plan that Merrill Lynch introduced on Wednesday rewards brokers who work in teams and pays them a premium for attracting money from wealthy clients that is put into trusts.
Winthrop H. Smith Jr., Summit Ventures chairman and CEO and author of "Catching Lightning in a Bottle," weighs in on what led Merrill Lynch to nearly collapsing during the financial crisis which forced Bank of America's acquisition.
WASHINGTON, Dec 4- A U.S. lawmaker critical of Wall Street is pushing the nation's six largest banks to voluntarily disclose their donations to think tanks, saying that not doing so threatens the credibility and research of these policy groups.
The "Fast Money" traders share their final trades of the day.
After a judge ruled that the city can proceed with its historic bankruptcy, the stage is set for an epic legal battle over who helps pick up the tab.
NEW YORK, Dec 4- Just a few years ago, Morgan Stanley lacked the expertise, infrastructure or desire to do a lot of lending, but today it is making a big push into loans to bridge a profit gap with rivals.
*2014 comp plan raises small household minimum to $100 K from $75 K. NEW YORK, Dec 3- UBS Wealth Management Americas unveiled its 2014 compensation plan on Tuesday, offering new expense accounts to brokers who produce annual revenue of at least $550,000 and eliminating broker pay for client households with less than $100,000 in their accounts.
NEW YORK, Dec 3- Wal-Mart Stores Inc is sticking with Bank of America's Merrill Lynch unit to run its 401 program with $18 billion in assets, Wal-Mart confirmed on Tuesday. The average Wal-Mart employee has about $18,000 in their retirement account, according to BrightScope, which tracks and rates retirement plans.
NEW YORK, Dec 3- Ben Venue Laboratories, a Bedford, Ohio- based subsidiary of German drugmaker Boehringer Ingelheim has tapped Bank of America Merrill Lynch to explore a possible sale of its generic sterile injectable drugs business.
*Blackstone not selling shares; to retain 76.2 pct stake. Dec 2- Hilton Worldwide Inc said its initial public offering would raise up to $2.37 billion in the biggest-ever hotel IPO, more than doubling Blackstone Group's investment. Blackstone has invested about $6.8 billion in Hilton and its 76.2 percent stake after the IPO will be worth up to $15.7 billion.
Hilton said its IPO would raise up to $2.37 billion, in what would be the biggest-ever hotel IPO and perhaps the second-biggest IPO of the year.
*Deutsche, Goldman Sachs, BofA and Morgan Stanley lead underwriters. Dec 2- Hilton Worldwide Inc said its initial public offering would raise up to $2.37 billion, in what would be the biggest-ever hotel IPO and perhaps the second-biggest IPO of the year.
Bank of America said it settled all claims with Freddie Mac arising from mortgages sold through the end of 2009.
Dec 2- Bank of America said it settled all claims with Freddie Mac arising from residential mortgages sold to the government-backed housing agency through the end of 2009..
Dec 2- Hotel operator Hilton Worldwide Inc, controlled by private equity firm Blackstone Group LP, said its initial public offering would raise up to $2.37 billion, valuing the company at about $20.7 billion.
Opposition leaders and local media have reported that Venezuela is seeking to boost availability of hard currency through transactions with Goldman Sachs and Bank of America.
CARACAS, Nov 28- Venezuela's central bank president denied on Thursday that Caracas is carrying out any transactions with Wall Street banks, a day after a senior government source said it was evaluating a swap agreement involving its gold reserves.
"We look for stressed sectors toward year end," Larry McDonald says.