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Wealth Management


Wells Fargo Faces New Minnesota Securities-Lending Trial

Jun 18
Wells Fargo faces a second Minnesota trial over claims by institutional investors that the bank marketed a risky securities-lending program as safe and cost them millions of dollars in losses.
National/Global
Risk Management

The Fincen Whistleblowers

Jon Matonis | Jun 17
Many developed countries, free from the U.S. impulse to see every product as something to track, do not share its inclination to frown on financial privacy.
Comments (3)
Technology
Regulation & Reform

RBC Seeks Wealth-Management Deals Up to $5B: CFO

Jun 12
Royal Bank of Canada, the country's largest lender by assets, will consider acquisitions of as much as C$5 billion ($4.9 billion) as it seeks to expand its wealth- management unit, Chief Financial Officer Janice Fukakusa said.
Consumer Finance
Mergers & Acquisitions

JPMorgan's Dimon Says There Was No Lying, Hiding on Whale

Jun 11
JPMorgan Chase will fight "till the end" anyone who sues the bank over more than $6.2 billion in losses in its chief investment office last year, Chief Executive Officer Jamie Dimon said.
National/Global

Lessons from the Galleon Scandal

Jun 10
The collapse of the Galleon Group hedge fund and criminal conviction of its founder, Raj Rajaratnam, is just the latest example of a cataclysmic about-face in the finance industry. Anita Raghavan, author of "Billionaire's Apprentice," a just-released book on Galleon, discusses why such scandals recur with such frequency and what cautionary lessons bankers and others can draw.
National/Global
Risk Management

Hugh McColl, former B of A Chief, Selling Investment Firm: Report

Paul Davis | Jun 05
McColl Partners, an investment firm formed by retired Bank of America Chief Executive Hugh McColl, could be looking to sell.
Community Banking
Mergers & Acquisitions

Full Retreat: Nonbank Financial Firms Abandon Banking

Jun 05
Insurers and brokerages have myriad reasons for setting up bank subsidiaries, including lower funding costs and a broader array of customer services. But increased regulatory scrutiny is prompting many to change their thinking. Here's a look at nonbanks that have or are looking to shed bank charters, citing the cost and time commitment related to complying with the Dodd-Frank Act and other obligations.
Consumer Finance
Regulation & Reform

SunTrust to Woo the Underbanked with In-Branch Financial Advisors

Chris Cumming | Jun 04
The financial counselors will provide services including credit-repair counseling, entrepreneurship training, tax advice and help getting out of debt.
Comments (1)
Community Banking
Retail Delivery

FSOC Names Systemically Risky Nonbanks

Donna Borak | Jun 03
The Financial Stability Oversight Council on Monday identified certain nonbank companies as potential threats to financial stability. Although it did not release names, AIG, Prudential and GE Capital later confirmed they were the firms initially tapped by the council.
Risk Management
National/Global

BNY Mellon Boosting Wealth Unit Sales Team 50% in Revenue Push

May 22
Bank of New York Mellon is hiring as many as 100 people in its wealth-management unit as it seeks to counter lackluster earnings in other businesses.
Consumer Finance

Why 85 Broads? A Krawcheck Q&A

Heather Landy | May 15
Since being forced out of Bank of America in 2011, Krawcheck has been talking a lot about the business case for gender diversity on boards and in top management. Now she's putting her money where her mouth is — and hopes other women will, too.
Comments (1)
Community Banking
National/Global

Wealth Management Presents Opportunity, But Also Stiff Competition

Kevin Wack | May 10
Many banks are joining the crowded field of companies targeting the investment savings of the so-called mass affluent.
Consumer Finance

JPMorgan Promotes Erik Bisso to Run CIO in North America

May 08
JPMorgan Chase named Erik Bisso to run the bank's chief investment office for North America, filling a vacancy created last year when Irene Tse left to start a hedge fund.
National/Global

Citigroup Names Wieting Chief Strategist for Private Banking

May 07
Citigroup named Steven Wieting global chief strategist of its private bank, the unit that claims relationships with a third of all billionaires.
Mergers & Acquisitions
National/Global

Money Laundering Is Financial Thoughtcrime

Jon Matonis | May 07
It's difficult to identify the victims of money laundering, other than the bank shareholders that must expend millions of dollars for the proactive compliance required as the state's deputized enforcers.
Comments (18)
Washington
National/Global

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What Is the FHFA Thinking?

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