Financial Business Recap: Schwab and TD Shut European Operations, Ameriprise Recruits MS Heavies
The Charles Schwab Corporation (NYSE:SCHW) and TD Ameritrade Holding Corporation (NASDAQ:AMTD) are in the process of closing some operations in Europe because of the weak trading environment. More specifically, Schwab is shutting its European division of OptionsXpress, and TD will no longer accept new business in a number of countries, among which include Italy and Belgium.
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Ameriprise Financial (NYSE:AMP) recruits two Morgan Stanley Wealth Management (NYSE:MS) heavy hitters, who in 2011 brought approximately $1 million in revenue. It had been reported that some of Morgan’s best producers were near to exiting, as they were said to be unhappy with the company since its merger with Smith Barney.
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