Asset management

The Minneapolis company has agreed to buy PFM Asset Management. Like many in the industry, it is hunting for additional sources of noninterest income.

Credit Suisse Group and JPMorgan Chase’s asset and wealth management business are working together to develop a new investment strategy focused on sustainable nutrition.

The deal follows JPMorgan’s recent takeover of 55ip, a fintech that focuses on helping investors cut their tax liabilities.

The San Diego company will pay $55 million to Morgan Stanley for a business that has 200 custody relationships, $23 billion of custodial assets and $1.2 billion of deposits.

Bank of Montreal agreed to sell its Europe, Middle East and Africa asset management unit to Ameriprise Financial for 615 million pounds ($847 million), marking CEO Darryl White’s biggest move yet to trim the bank’s portfolio of noncore businesses.

Goldman Sachs Group’s plan to move part of its asset management unit to Florida is gaining momentum, as the Wall Street bank discreetly seeks volunteers for the first wave and prepares office space.

JPMorgan Chase is stepping up its search for acquisition targets as competition intensifies from financial technology firms and other new rivals.

Wells Fargo plans to sell its asset management business to two private equity firms, part of Chief Executive Charlie Scharf's efforts to dump nonessential operations and help the bank emerge from years of scandals.

The trust bank and the credit card company said they'll make it easier for customers to use cryptocurrencies. The announcements contributed to another jump in the price of the largest digital asset.