The Miami area's economy is on the rebound and expanding beyond sun and fun. A new influx of money, investors and customers with international ties could feed local banks' balance sheets and top-line growth.
itBit, the startup Bitcoin exchange whose backers include former FDIC chairman Sheila Bair, has become the first digital currency firm to receive a trust charter under New York banking law.
The German bank's massive strategic overhaul will include cutting key businesses and leaving 10 countries, but it plans to invest in the U.S. despite all the regulatory troubles it has had here.
With good planning, advisory boards can increase a bank's visibility, credibility and sales.
Higher-than-expected revenue growth and improved asset quality propelled Northern Trust Corp. to strong profit gains in the quarter that ended March 31.
Morgan Stanley reported profit that beat analysts' estimates and the highest adjusted revenue in more than five years as equity trading and brokerage revenue jumped.
Sandy Spring Bancorp, in Olney, Md., reported an increase in quarterly profit because of an increase in mortgage revenue.
First Republic Bank reported higher quarterly profit, though loan growth pushed the San Francisco company above $50 billion in assets.
Bank of America reported its best quarterly profit in more than a year, but with revenue declining and expense-reduction slowing, it is unclear where the company can turn to boost earnings. Similar questions are plaguing many banks as the latest earnings season unfolds.
Regions Bank in Birmingham, Ala., has hired a former SunTrust Banks executive to join its wealth management group.
Bank of America Corp. named Diego De Giorgi and Karim Assef as co-heads of global investment banking, pairing a London-based banker who has focused on Europe and emerging markets with a New York-based veteran of the business.
If the Financial Stability Oversight Council was hoping for any kind of consensus on whether and how it should regulate asset management companies, the feedback it has received on its request for comment is likely disappointing. Asset management companies, their representatives and public interest groups presented widely divergent visions about what, if anything, the council should do.
Ultra-high-net-worth investors can have complex needs. That's why family historians and psychologists are on staff at Abbot Downing, the wealth-management business founded by Wells Fargo to serve investors with $50 million or more.
Digit, a startup in San Francisco targeting millennials, has launched a service that crunches checking account data to determine daily amounts to automatically transfer into users' savings accounts. Its debut points to how personal financial management services are growing up to do the work on the consumer's behalf.
It's easy for banks to spin their wheels on local reinvestment, financial education and other efforts to help underserved communities. To make outreach programs successful, bank executives need to carefully vet nonprofit and other partners, listen to their employees on the front lines and reflect on their own reasons for getting into banking.