Matt Ackermann

Six years after acquiring a small Atlanta money manager to establish a foothold in Georgia, BNY Mellon Wealth Management is adding staff in the state to take advantage of a surge in the Southeast's population of wealthy individuals.

Affluent investor confidence rose in November, but the wealthy probably will not be bullish about investing until unemployment rates improve.

Armed with a slew of former U.S. Trust wealth management veterans, Evercore Wealth Management has nearly doubled its assets under management to $1.4 billion in the past six months.

Americans are willing to postpone retirement — and even work during it — but do not want to spend less after they have retired, according to a survey conducted by Charles Schwab & Co. Inc.

Continuing its move out of the financial crisis and into consolidation mode, State Street said it had agreed to buy a European fund administrator to expand its alternative servicing capabilities.

Two college-savings companies are borrowing a page from banks' cash-back loyalty playbook, offering customers rebates on services including refinancing mortgages or opening online bank accounts.

Wilmington Trust announced the hiring of D. Jack Sawyer Jr., Michael A. Mohr and Todd A. Tautfest for its wealth advisory services business in the Southeast.

Pacific Investment Management Co. has introduced its first actively managed, exchange-traded fund, the Pimco Enhanced Short Maturity Strategy Fund.

MassMutual Financial Group's retirement services division has recorded a 76% increase in nonprofit retirement plan sales in the first 10 months of this year as compared with the year earlier.

Steve Dowden has big shoes to fill as the new chief executive of Invest Financial Corp., and his strategy is to switch to an older, more comfortable pair.

New York Life Insurance Co. announced record life insurance sales and solid growth in agent recruiting for the first nine months of the year.

Wilmington Trust Corp. plans to expand its corporate client services globally despite a tough year that has forced it to consolidate some domestic operations.

BNY Mellon Wealth Management announced it has promoted James Hillman to managing director of portfolio management for the Southern California region.

Bank holding company securities brokerage income totaled $16.4 billion in the first six months of the year, up 74.5% from a year earlier, according to the Michael White Bank Securities Brokerage Income Report.

Financial services firms are urging Congress to adopt retirement savings reforms in the next few years and are readying products that could profit from them.

FirstMerit Corp. in Akron said Wednesday that it has agreed to buy about $1.2 billion of deposits and 24 Chicago-area branches from First Bank of St. Louis.

First Capital Bancorp Inc. and Eastern Virginia Bankshares Inc. said Monday that they have called off their planned merger due to the current regulatory environment.

The addition of nonmanaged assets to a unified managed account could be the next step in the product's evolution, but some industry providers are skeptical whether the interest in stock-picking right now is enough for this enhancement to take off.

Confidence among millionaire investors fell in October, according to Spectrem Group.

Though some banking companies have soured on Florida because of its severe economic problems, BB&T Corp. is expanding its insurance operations in the Sunshine State.