Wealth management

A slower rate of price increases would boost the likelihood of an interest-rate cut that could expand loan demand and lower banks' deposit costs. A higher pace of inflation, however, could derail those catalysts.

Unity Bank in Clinton, NJ, now offers EV charging stations in a collaboration with Encore Energy Group; fintech Beneficient announced its agreement to acquire Puerto Rico-based Mercantile Bank; Trump named payments exec Jared Isaacman to run NASA; and more in this week's banking news roundup.

Primis Financial had to delay several reports to the SEC due to an accounting misclassification error, which raised the possibility that the bank's stock would no longer trade on Nasdaq. Executives say they're "optimistic about putting this behind us."

The technology has the potential to democratize access to knowledge about financial services, but like any tool, it must be used carefully and responsibly.

Oden, head of U.S. wealth, private banking, asset management and premier banking at HSBC, was one of the first in the industry to build an online wealth management platform.

The company's stock price has jumped 23% since the election, as investors bet that federal student loans will get curtailed, providing more opportunity for the private sector.

Andy Sieg, head of Citi's wealth business, says retention bonuses are part of his growth strategy.

Analysts say lenders' shares could rally on deregulation, lighter tax burdens and a resurgence of M&A. Declining interest rates and lower loan losses could further bolster bottom lines and attract investor interest.

Nicholas Takahashi and his team are accused of deliberately trying to poach the clients of a former colleague managing hundreds of millions in assets and producing more than $1 million a year in revenue.

The Honolulu-based seller had faced pushback from an investor group that stepped in with a competing offer. But it ultimately secured enough votes to approve the sale to Hope Bancorp.