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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.
May 1, 2005
John Churchill |
Class-Action Threat Smith Barney is facing a new round of sex-discrimination suits. |
Registered Rep.
April 25, 2007
Halah Touryalai |
Women Win Another Round: Morgan Stanley to Pay $46 million in Gender Discrimination Settlement The financial firm decided it will shell out over $46 million to 2,700 female advisors and trainees who say the firm discriminated against them with respect to account distributions, compensation, training and promotions. |
Registered Rep.
April 5, 2006
John Churchill |
UBS Wins Prominent Black Rep From Smith Barney In what can be considered a coup of sorts for the firm, UBS hired a prominent black Smith Barney broker this past winter -- while it was under fire from a lawsuit brought by former brokers alleging a pattern and practice of racial discrimination. |
Registered Rep.
February 25, 2011
Jerry Gleeson |
Wells Fargo Settles Sex Discrimination Claims For $32 Million Wells Fargo Advisors has tentatively agreed to a $32 million settlement of a federal class-action gender discrimination lawsuit brought in 2009 by three women financial advisors who worked at its legacy Wachovia Securities brokerage. |
Registered Rep.
October 11, 2007
Halah Touryalai |
Judge OKs Millions To Morgan Stanley Female Reps A federal judge approved settlement of the class action lawsuit six months after the women settled a discrimination suit with the firm. |
Registered Rep.
August 3, 2011
Kristen French |
New Merrill Overtime Lawsuit Aims to Overturn System of Compensation, Alleged Culture of Discrimination The giant Wall Street financial firms have settled numerous overtime pay and discrimination claims over the past decade and a half, but a recent suit filed in New York represents a new twist on some old themes. |
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.
August 26, 2003
David A. Gaffen |
Smith Barney Settles On WorldCom; Spartis, Elias Continue Fighting A million dollars. That's the amount brokerage firm Smith Barney agreed to pay in a settlement with the New York Stock Exchange in an investigation of improper conduct at an Atlanta branch of the firm related to WorldCom employee/shareholders. |
Registered Rep.
September 13, 2007
Halah Touryalai |
Overtime Finally Pays Off Smith Barney brokers may be the first to cash in on overtime lawsuits that have been all the rage over the last two years. |
Registered Rep.
May 1, 2006
John Churchill |
Score One for Diversity UBS has hired a prominent black Smith Barney broker. |
Fast Company
Samantha Cole |
Facebook Sued For Gender Discrimination Former Facebook employee Chia Hong is taking the social network to court for alleged gender discrimination, racial discrimination, and sex harassment, in a lawsuit filed Monday. |
Registered Rep.
November 1, 2002
David A. Geracioti |
Spartis, Elias Each Seek $100M From Smith Barney Spartis and Elias claim they were wrongfully fired in February. They claim that Smith Barney did not adequately represent them in WorldCom-related customer complaints. |
Registered Rep.
March 16, 2007
Halah Touryalai |
900 Down, Only a Handful to Go--Merrill Pays One More Female Broker; Separately, Thousands of Female Morgan Stanley Reps May Settle One of the last claimants from the 1997 class-action discrimination lawsuit against Merrill Lynch collected her reward late last month. Separately, Morgan Stanley has confirmed that it settled with over 3,000 claimants but would not comment further. |
Registered Rep.
September 24, 2002
David A. Gaffen |
Former Brokers Sue SSB, Grubman, Even Sandy Weill Want $100 Million Each for Wrongful Termination, Defamation Spartis and Elias claim that they were wrongfully fired from their positions in February of this year after the firm, in their eyes, did not adequately represent them in complaints filed by customers related to WorldCom. |
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.
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.
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.
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.
April 29, 2008 |
Citi Hedge Fund Blow Up Hurts Clients--And Sends Advisors Packing While Smith Barney tries its darnedest to hold on to the money of its wealthy clients, it's also having a hard time keeping some of its best brokers. |
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.
July 25, 2007
Kevin Burke |
Smith Barney Fined $50 Million for Market Timing; More Firms, Reps To Be Fined So you thought the market timing scandal was over? Think again. |
Registered Rep.
July 9, 2003
David A. Gaffen |
Score One For Smith Barney In Cap Plan Hearings A superior court judge in California has ruled for Smith Barney in a case related to a deferred compensation plan that has been the subject of several lawsuits from brokers who formerly worked for the firm. The court said the CAP is not unlawful and does not violate labor laws. |
Registered Rep.
January 1, 2003
Will Leitch |
A Reign of Terror Against Women The topic of sex discrimination at brokerage houses is a sensitive one in the industry. While many would like to think it's an ancient issue, sexual misconduct remains a powerful thorn in the industry's side. |
Registered Rep.
October 1, 2005 |
Foul or Fair Q: Am I correct in my belief that I was discriminated against regarding account distribution, training opportunities, marketing, support and partnership opportunities because I was a woman rep who wasn't aligned with a male partner to protect me?... A: Controversy permeates the securities industry... etc. |
Registered Rep.
May 29, 2007
Kevin Burke |
Smith Barney's Krawcheck to Smooth Out Comp. Plan The brokerage giant's top executive is set to tweak the firm's compensation plan in an attempt to address financial advisors' repeated complaints over pay complexities and claims of unfairness. |
Registered Rep.
March 1, 2003
Will Leitch |
CAP and Frown A long-running dispute over a Salomon Smith Barney Capital Accumulation Plan (CAP) is going to trial. |
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.
March 1, 2006
Kristen French |
Broker Fights for His Reputation--and Wins (Some of It Back) Philip Spartis, a former highflying Salomon Smith Barney broker, last week won a $1 million defamation judgment against lawyer Stuart Goldberg in an Arizona court. |
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 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. |
Registered Rep.
August 1, 2004
John Churchill |
Where the Women At? What makes the brokerage business such a stubbornly male-oriented place, and will it ever be a place in which women can feel comfortable? Includes a look at ten women that broke through the glass ceiling. |
Job Journal
September 12, 2004
Michael Kinsman |
Career Pros: Wal-Mart Case an Eye-Opener The nation's largest workplace sex-discrimination case is supposed to be about 1.6 million women who work for, or used to work for, Wal-Mart. But it's really is about something much bigger. |
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.
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.
August 12, 2003
David A. Gaffen |
Building a Better Separate-Account Mousetrap Separately managed accounts can be confusing, but the paperwork and operations behind them need not be -- or at least that's the thrust of a new effort by Smith Barney Consulting Group. |
Registered Rep.
February 24, 2012
Kristen French |
Due Diligence: Seven Years Later, Merrill Broker Discrimination Class Action Gets go Ahead The lawsuit will go to court in April, and then the judge will set a date for trial. |
Registered Rep.
September 3, 2003
David A. Gaffen |
Two Smith Barney Reps Deny NYSE Allegations Two former Smith Barney employees have denied WorldCom-related allegations brought against them by the NYSE. |
Registered Rep.
April 29, 2004
David Gaffen |
Smith Barney Stays the Course Contrary to other large wirehouse brokerages, Smith Barney does not plan on aggressively expanding its sales force at this time. |
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.
June 1, 2004
David A. Gaffen |
Expand the Sales Force? Not Smith Barney The firm does not plan on aggressively expanding its sales force at this time, but rather intends to maintain its staffing level --- currently about 12,500 financial advisors. |
Registered Rep.
October 1, 2006
John Churchill |
Crackberry Addicts Fight Back Run afoul of the law while tapping or yapping into your Blackberry and you may have a case-against your employer. |
Investment Advisor
July 2006
Kathleen M. McBride |
B/d Briefing: Two Faces of Wall Street Few financial professionals expect to work a 40-hour week on Wall Street. So it was surprising to see the extent of rep participation in class-action lawsuits over broker overtime, and the astounding settlements that have been awarded. |
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.
December 16, 2004
David A. Gaffen |
Smith Barney's Matthews Retires; Johnston Steps In Tom Matthews, president of Smith Barney's global private client group, is retiring and Charles Johnston, currently director of the retail branch system at the firm, will replace him. |
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 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.
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.
February 21, 2007
John Churchill |
Smith Barney Comp Pleasant Surprise Judging from initial reports from reps, the written version of the new plan is an improvement from the prior version -- a plan many reps equated to a pay cut despite the firm's insistence that it was "revenue neutral." |
Reason
December 2003
Rachel Alembakis |
Dueling Discriminations: Religion vs. gender Can a handshake be grounds for a lawsuit? Perhaps, under a European Union directive passed in 2000 requiring member states to crack down on workplace discrimination on the basis of gender, sexual orientation, and religion. |
