Good tidings for financial advisers these days.
Milwaukee-based firm Robert W. Baird & Co. will capitalize on its revenue results for 2011 and continue to hire financial advisers as part of an expansion plan.
According to John Mabee, vice chairman of the firm's private wealth-management group, Baird has nearly 700 financial advisers currently and has hired more than 250 since 2009.
While the firm declines to specify exactly how many advisers it wants to bring on, Mabee said, "We'd like to hire all the good quality [financial advisers] possible, but we're very firm about not lowering the bar at all to build out the numbers."
Meanwhile, the thundering herd over at Bank of America Merrill Lynch may be in for a payday. The bank is in talks with lawyers representing more than 1,000 former brokers who claim they're owed deferred compensation after BofA took over Merrill in 2009. The settlement could cost hundreds of millions of dollars for the bank.
Job Report (FINS)
The finance sector gained 1,000 positions last month. Not a wholly optimistic figure, but at least it wasn't a loss.
Reorg at JP (Dow Jones)
J.P. Morgan is splitting the units of its consumer-banking division into six and also promoting some managers to lead them. Other existing managers have been assigned to some of the new units.
Heading to the Alps (Reuters)
Swiss trading firm Mercuria is bringing on commodities heads from Barclays and Goldman Sachs.
Waiting to Exhale (Guardian)
One interdealer broker based in London recounts his experiences with clients, direct reports and the dilemma of golden handcuffs.
The Welch View (WSJ)
Jack Welch believes women just need to work hard and they'll get ahead. Others, however, think it's just a bit more complicated.
They Know How You Feel (WheninFinance)
A new Tumblr explores the various (animated) scenarios that pop up when you work in finance.
Cool Riders (Business Insider)
J.P. Morgan bankers who are working on the Facebook IPO weren't shy about showing off their new duds. Much better than small toys.
Buzz Around the Office
Eleven Crazy Sounds (Buzzfeed)
A barking cat, a death metal rooster, and a ticklish (laughing?) camel all make the list.
List of the Day: Positioning for Promotion
Make sure you, not your colleague, is the one to get fast-tracked.
1. Be willing to move for a promotion or assignment.
2. Never go above your boss's head.
3. Attach yourself to a superstar mentor.