The headhunters are circling at Morgan Keegan & Co.
Search firms are targeting brokers at the Regions Financial Corp. unit in the wake of fraud charges leveled at the firm in relation to the pricing of several bond funds, according to Dow Jones Newswires. The allegations are just the latest legal problem for the firm, which has recently been the focus of actions from investors and regulators, including nearly 1,000 arbitration cases from investors trying to recoup money lost in the funds.
Brokers are left having to apologize to clients for the firm's behavior, according to Newswires.
"Not calling Morgan Keegan brokers right now is recruiting malpractice," said White Plains, N.Y., recruiter Danny Sarch.