Although some small and mid-sized firms have also been profitable, they have had to control costs by adopting technology and by altering their payout grids
Securities firms continue to adapt to the business environment and cost cutting remains a clear focus
Profits down slightly from a year ago, but higher than Q4 2012
Ratings agencies offer mixed outlooks
Economic uncertainties, new regulations to hamper revenues and earnings
There has been a sharp decline in employment in the securities industry in New York in recent months
Smith Barney brand dropped following deal with Citigroup
Purchase of Union Securities by PI Financial is just the latest in a series of deals in the firm's growth strategy
PCAOB releases report on interim inspection program
Predecessor firm Nesbit Thomson was established in 1912