Wealth management

Nobody thought it would be pretty, but last quarter's results were even worse than expected, and low fee revenue is largely to blame. Trading and mortgage banking were particularly bad, and few of the big banks managed to offset the declines.

Wells Fargo plans to systematically poach Credit Suisse's private brokers in the U.S. and their clients — and the Swiss bank is OK with that.

The widespread adoption of online and mobile banking has largely happened at a time when rates have been near zero. At some point, rates will rise and the value of the experience will be pitted against the value of a yield for depositors. Rate-hoppers will be able to move at an unprecedented speed.

Driven by solid gains in both interest and noninterest income, Northern Trust Corp. in Chicago reported a profit of $234.6 million in the third quarter, up 15% from the same period in 2014. Earnings per share climbed 14%, to 96 cents, in line with the estimates of analysts polled by Bloomberg.

Bank of New York Mellon, the world’s second-largest custody bank, reported a third-quarter profit that beat analysts’ estimates as the company cut expenses to offset the impact of lower interest rates.

Wealthy women don’t necessarily think they do well managing their own money, according to a new study by Regions Financial.

Profits at First Republic Bank fell slightly in the third quarter as increased salary and benefits costs and a decline in noninterest income could not offset strong growth in loans, deposits and wealth management assets.

Results from the largest U.S. bank, and the first major player to report on its latest quarter, showed widespread revenue strains and only added to questions about the industry's growth prospects in the near future.

Barclays Chairman John McFarlane's three-month hunt for a chief executive officer with a new set of skills has led to a familiar form of talent: an American investment banker.

Cullen/Frost Bankers will consolidate about 175 employees at a new office tower in Fort Worth, Texas, for which it will also be the anchor tenant.