Huntington Bancshares named FirstMerit executive Sandra Pierce as senior vice president of its private-client group. Pierce will report to CEO Stephen Steinour and oversee the lender's wealth management, private bank, national settlements and retirement businesses.
The bank is rolling out a new digital advice offering that pairs robo technology with financial advisers, most of whom have the CFP designation.
The $3.2 billion-asset Park Sterling announced this week that it will hire four commercial and industrial bankers from the $2.3 billion-asset CommunityOne Bancorp to help expand its commercial banking team in the Charlotte metropolitan area.
Bank of New York Mellon will pay a $30 million penalty to the U.S. Securities and Exchange Commission in a settlement related to the bank's pricing of foreign-exchange transitions.
JPMorgan Chase can give valued clients a free automated investment service or a checking account that comes with no-cost brokerage trades as part of a future bundle of digital-banking products, Chief Executive Officer Jamie Dimon said.
The wealth management technology provider SigFig has raised $40 million in equity and other financing from a number of large financial and venture capital firms so that it can expand its business.
UBS is partnering with the technology developer SigFig to launch a robo platform for its 7,000 advisers, making this one of the most high-profile deals of its kind between a wealth management firm and a tech startup.
Truxton Trust's approach is just one strategy banks are using attract more wealthy clients. But whether they are exploring out-of-market opportunities, staying local or employing robo-advisers, banks all have the same goals: to generate more fee income at a time when margins from lending continue to shrink.
Sallie Krawcheck unveiled Ellevest, a digital investment platform for women and the latest of her female-oriented ventures, on Wednesday.
Christopher Cline, a former Wells Fargo executive, has joined the management of a community bank in Vancouver, Wash., to help it build up its wealth management business.
Royal Bank of Canada named Jefferies Group's Michael Armstrong as head of its U.S. wealth-management business.
Bank of New York Mellon and Northern Trust are charging money market investors more fees after previously cutting them major breaks in the low-rate environment.
The scramble to cut costs at State Street continues as the custody bank seeks to make up for declining fees and add revenue-generating businesses.
The Fed's December interest rate hike helped PrivateBancorp's first-quarter profit, as yields rose on its variable-rate loans.
Bank of New York Mellon, the custody bank under pressure from activist investors to improve results, reported a 5% increase in first-quarter profit as it cut expenses and benefited from higher interest rates in the U.S.