“Stolen historical artifact returned to Russia - KING-5” plus 3 more |
- Stolen historical artifact returned to Russia - KING-5
- Obama signs new law to help promote U.S. tourism - USA Today
- Wells Fargo wealth chief wants 10,000 more advisers - Reuters
- EXCLUSIVE-Wells Fargo wealth chief wants 10,000 more advisers - CNN Money
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| Stolen historical artifact returned to Russia - KING-5 Posted: 04 Mar 2010 03:47 PM PST SEATTLE - A stolen Russian artifact, recovered in King County, was returned to Russian authorities in Moscow on Thursday. Members of the U.S. Immigration and Customs Enforcement (ICE) returned a silver pendant with an engraved image of Peter The Great, who was the Czar of Russia from 1682 to 1725, to the Russians in a ceremony at the U.S. Embassy. Ambassador John Beyrle said that what he called the "detective story" of the recovery of the rare artifact signaled increasing trust and cooperation between Moscow and Washington. The pendant was among 1,200 historical items linked to Peter the Great that were given to the State Hermitage Museum in St. Petersburg, Russia in 1947. According to ICE, the pendant had been donated to the museum by the family of Czar Nicholas II. The pendant was stolen from the State Hermitage Museum in July, 2006. A check also showed that some 200 exhibits, including jewelry and icons worth $5 million, were also stolen from the museum. In May, 2009, Russian authorities learned that a pendant similar to the one stolen from the museum was being offered for sale by an antiques dealer in King County. The Russians contacted ICE for assistance. ICE agents located and recovered the pendant and turned it over for authentication by experts in the Moscow Kremlin Museum. "Artifacts of historical or cultural significance allow the public to experience a nation's heritage and these items shouldn't be offered as souvenirs for sale to the highest bidder," Leigh Winchell, special agent in charge of ICE's Office of Investigations in Seattle, said in a press release. "ICE is committed to working with our global law enforcement partners to investigate those who seek to benefit financially from this type of illegal activity." The engraved pendant, which measures 2.6 by 1.7 cm and weighs about two grams, is believed to have been crafted by artisans in the central Russian province of Kostroma in the late 19th or 20th century. Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. | |
| Obama signs new law to help promote U.S. tourism - USA Today Posted: 04 Mar 2010 02:57 PM PST |
The travel industry has been lobbying for the law for years, arguing that the U.S.'s reputation as a destination has suffered due to stepped-up security post-9/11 and that more inbound visits will provide a much needed jolt to the sluggish economy. An international tourist to the U.S. spends on average $4,500 per visit, according to the USTA. "This is an important moment in the industry that's integral to the U.S. economy," says Jonathan Tisch, CEO of Loews Hotels and Chairman Emeritus of the U.S. Travel Association. "The countries we are competing with for inbound travelers are spending hundreds of millions to attract people to their shores." The number of international visitors to the U.S. is estimated to be down to 54.3 million last year from 58 million in 2008, according to the USTA. The new law calls for the formation of a non-profit company — the Corporation for Travel Promotion — that will promote the U.S. abroad to tourists, business travelers and students as an attractive place to visit. Many countries have a high-level government agency that promotes tourism and culture, while private companies and local visitor bureaus handle tourism campaigns in the U.S. Under the new law, visitors from visa-waiver countries — most European countries, Australia, Brunei, Japan, Korea, Singapore and New Zealand — will be required to pay $10 prior to arriving in the U.S. The fee will allow multiple visits within a two-year period. People from the visa-waiver countries are not required to have entry visas for up to 90 days of travel in the U.S. The USTA estimates the requirement will result in about $8 million collected from tourists each month. The money will be used to create and fund the tourism company. Before any money can be spent on marketing, the company must find a dollar-for-dollar match from the private sector, up to $100 million. The enterprise will be a private-public partnership overseen by Congress and the secretary of Commerce. The company will start filling its 11 board seats this year, but likely won't engage in marketing activities until 2011, Geoff Freeman of USTA says. European countries have opposed the bill, saying that it could result in retaliatory fees for Americans and fewer tourists to the U.S. Freeman says other countries' opposition is less about the $10 fee and more about competition. "The U.S. has not competed for visitors. We're about to get in the game. That scares a lot of folks around the world." Other countries also charge similar fees for inbound visitors, but their fees are often "buried" in airline tickets, Freeman says. |
| Wells Fargo wealth chief wants 10,000 more advisers - Reuters Posted: 04 Mar 2010 03:18 PM PST CHARLOTTE, North Carolina (Reuters) - Wells Fargo & Co (WFC.N) has a long-term goal of adding 10,000 additional advisers in its wealth management unit over time and plans to aggressively expand the number of brokers working out of the bank's retail branches. David Carroll, a Wells Fargo senior executive vice president overseeing wealth management, told Reuters on Thursday the company's bank branches are a key part of expanding the $1.1 trillion in client assets managed by what many people may be surprised to learn is the third largest U.S. brokerage. Among the nearly 15,000 advisers employed by Well Fargo are 3,000 working inside Wells Fargo branches nationwide. Carroll said he's trying to grow the branch-based force as quickly as he can, constrained by the ability to find the right people. "If I could double the number of people (in the branches), the market would support probably twice as many people as we have" in the branches now, Carroll said in an exclusive interview at his Charlotte, N.C., office. Wells Fargo's wealth unit has been overshadowed by the changes at the two larger U.S. brokerages, including the addition of Merrill Lynch's wealth business to Bank of America Corp (BAC.N), and the new Morgan Stanley (MS.N) Smith Barney joint venture with Citigroup Inc (C.N). When Bank of America Corp bought Merrill Lynch in January 2009, many brokers feared they would become more like bank tellers than financial advisers. This brokers-at-banks model has historically been viewed by the industry as akin to mixing oil with water, but Carroll insists the model does work -- though it takes years to fully implement. "It takes a while to build a culture where they come together," Carroll said. HIRING In February, Wells Fargo disclosed it planned to hire 1,400 advisers this year through a mix of recruiting and training. Longer term, Carroll has his sights set on more ambitious growth. The company's brokerage force, he said, could swell to as large as 25,000 advisers, though he notes that will take years to accomplish. He said that a brokerage team any larger than that would likely over-saturate the United States. Carroll said Wells Fargo Advisers -- its brokerage division -- added 97 advisers in January, but will likely not match the pace seen in the first quarter last year, when the bank added 838 advisers amid historic industry turmoil. Carroll said advisers and brokers are continuing to move among the major firms, though the movement is slowing. He said the so-called "breakaway broker" phenomena, or brokers leaving to become independent financial advisers or join independent firms, is still very real and not restricted to the worst performing brokers. Wells Fargo also operates an independent adviser unit, which Carroll also oversees. "I think there is migration all along the productivity spectrum," Carroll said. "Its not just the low-end advisers. To the extent anyone thinks that, I think they're deluding themselves." Wells Fargo Advisers is 14 months into the integration of Wells Fargo and Wachovia Corp's wealth management operations. The bulk of the wealth operations come from Wachovia Corp -- itself the amalgamation of a dozen regional brokerages plus Prudential Securities. Carroll is the only senior Wachovia executive remaining at the company, after the 2008 buyout. (Reporting by Joe Rauch; editing by Carol Bishopric) Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. | |
| EXCLUSIVE-Wells Fargo wealth chief wants 10,000 more advisers - CNN Money Posted: 04 Mar 2010 02:49 PM PST * Wealth chief says branches key to wealth growth * Wells could "double" advisers in bank branches * Longer-term, advisers could top 25,000 By Joe Rauch CHARLOTTE, N.C. (Reuters) - Wells Fargo & Co has a long-term goal of adding 10,000 additional advisers in its wealth management unit over time and plans to aggressively expand the number of brokers working out of the bank's retail branches. David Carroll, a Wells Fargo senior executive vice president overseeing wealth management, told Reuters Thursday the company's bank branches are a key part of expanding the $1.1 trillion in client assets managed by what many people may be surprised to learn is the third largest U.S. brokerage. Among the nearly 15,000 advisers employed by Well Fargo are 3,000 working inside Wells Fargo branches nationwide. Carroll said he's trying to grow the branch-based force as quickly as he can, constrained by the ability to find the right people. "If I could double the number of people (in the branches), the market would support probably twice as many people as we have" in the branches now, Carroll said in an exclusive interview at his Charlotte, N.C., office. Wells Fargo's wealth unit has been overshadowed by the changes at the two larger U.S. brokerages, including the addition of Merrill Lynch's wealth business to Bank of America Corp , and the new Morgan Stanley Smith Barney joint venture with Citigroup Inc . When Bank of America Corp bought Merrill Lynch in January 2009, many brokers feared they would become more like bank tellers than financial advisers. This brokers-at-banks model has historically been viewed by the industry as akin to mixing oil with water, but Carroll insists the model does work -- though it takes years to fully implement. "It takes a while to build a culture where they come together," Carroll said. HIRING In February, Wells Fargo disclosed it planned to hire 1,400 advisers this year through a mix of recruiting and training. Longer term, Carroll has his sights set on more ambitious growth. The company's brokerage force, he said, could swell to as large as 25,000 advisers, though he notes that will take years to accomplish. He said that a brokerage team any larger than that would likely over-saturate the United States. Carroll said Wells Fargo Advisers -- its brokerage division -- added 97 advisers in January, but will likely not match the pace seen in the first quarter last year, when the bank added 838 advisers amid historic industry turmoil. Carroll said advisers and brokers are continuing to move among the major firms, though the movement is slowing. He said the so-called "breakaway broker" phenomena, or brokers leaving to become independent financial advisers or join independent firms, is still very real and not restricted to the worst performing brokers. Wells Fargo also operates an independent adviser unit, which Carroll also oversees. "I think there is migration all along the productivity spectrum," Carroll said. "Its not just the low-end advisers. To the extent anyone thinks that, I think they're deluding themselves." Wells Fargo Advisers is 14 months into the integration of Wells Fargo and Wachovia Corp's wealth management operations. The bulk of the wealth operations come from Wachovia Corp -- itself the amalgamation of a dozen regional brokerages plus Prudential Securities. Carroll is the only senior Wachovia executive remaining at the company, after the 2008 buyout. (Reporting by Joe Rauch; editing by Carol Bishopric) Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
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