Wealth management

Bank of New York Mellon's ability to bring in new business for its massive custody business propelled its quarterly profit.

Northern Trust’s success in attracting new trust and investment management clients helped to boost its third-quarter profit.

The demographics of our country are changing. If businesses aren’t figuring out a way to change, too, they risk being left behind.

First Republic Bank in San Francisco said Thursday that its third-quarter profit climbed 27.4% from the same period last year, to $171.8 million, thanks to double-digit gains in both interest and fee income.

Funding of startups will cool overall, but venture capitalists anticipate growth in new areas of financial services that are ripe for innovation, including wealth management, insurance and back-office operations.

B of A's Merrill Lynch unit by early next year plans to join Charles Schwab, Fidelity Investments, BBVA Compass, U.S. Bancorp and others in offering clients a low-cost investing app and online service.

State Street on Wednesday appointed a new chief financial officer.

JPMorgan Chase's Thasunda Duckett has been named chief executive officer of consumer banking as part of one of the bank's periodic management reshufflings.

BNY Mellon's Karen Peetz tops the 25 Most Powerful Women in Banking list; the 25 Most Powerful Women in Finance list is led by Mary Callahan Erdoes at JPMorgan Chase; and Nandita Bakhshi at Bank of the West heads the 25 Women to Watch list.

Johnny Burris, an investment advisor, has been embroiled in a four-year dispute with the bank, his former employer, which he says pressured him to push his clients into the bank's own or favored investment products. JPMorgan, and now Finra, accuse Burris of causing the (three-figure) client loss and neglecting to make his superiors aware of the problem.