As Morgan Stanley Smith Barney and UBS AG move to more complex management structures, some branch managers are scrambling to rebuild their client books.

These management structures are systems that have been long used by Bank of America Corp.'s Merrill Lynch & Co., where one manager oversees one or more "satellite" branches in a region. The manager of each satellite branch is then usually required to also service a book of clients. The manager is compensated for performing his management tasks, but the salary is less than that of a nonproducing manager, as the shortfall is made up by his own production.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.