Wells Fargo & Company is an American multinational financial services company with corporate headquarters in San Francisco, California, operational headquarters in Manhattan, and managerial offices throughout the United States and overseas.
Group, who moved with two support staff, had overseen around $2 billion in customer assets, according to a person familiar with their practice.
The broker, who had represented himself in the underlying arbitration, said the panel unfairly ordered hearings to proceed even though he was suffering long haul effects of the Covid-19 virus.
A three-person arbitration panel sided with UBS for the majority of the award against a broker who joined Wells in 2017 but also said the firm had misrepresented its loan program and agreed with the broker’s constructive discharge claim.
Among several new hires, Wells plucked three UBS brokers with a combined $3.7 million in annual revenue, including a New England duo and solo producer in Boca Raton.
A manager at the firm said that the software, which will be rolled out through 2022, marks a significant improvement from the current Envision program.
Wells Fargo & Co. agreed to pay $37 million to settle U.S. claims that it overcharged almost 800 commercial customers that used its foreign exchange services, the latest in a series of scandals at the bank.
Led by 20-plus-year industry vets Jerold Doell Jr. and Douglas Kuszak, the four-person team joined RBC in Lincoln.