Lawyers are celebrating a Houston judge's decision to throw out a previous $9.2 million judgment against Morgan Keegan, but the firm at the center of the case is still marked for sale.
Another deal for Sterne Agee gives the rapidly expanding institutional-oriented firm an even bigger retail focus in the Mid-Atlantic and throughout the Midwest.
Attrition from Morgan Keegan has been negligible as advisors wait for news that the firm has found a buyer, but recruiters warn that those looking for a big retention bonus may be disappointed.
Oswald Grübel was barely the head of UBS for two years, but in that short period he found time to defend the Swiss bank's U.S. brokerage unit from rumors that it should be sold off.
Rumors to the contrary, Raymond James appears to have no interest in buying Morgan Keegan. It's just too big and to similar to the firm's existing footprint to be an easy fit.
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