Wealth management

Apps that help people manage their money on a day-to-day basis are all the rage among millennials. Here are the most effective of the bunch.

Huntington Bancshares in Columbus, Ohio, has agreed to sell about $1.1 billion of money market fund assets to Federated Investors in Pittsburgh.

Graduate business students — some of whom previously worked at traditional financial services companies — have been organizing fintech clubs at universities to explore the dramatic changes in banking and to find potential employers.

Regions Financial in Birmingham, Ala., has named Kate Randall Danella as executive in charge of several wealth management functions.

The cloud computing company Salesforce has introduced Salesforce Financial Services Cloud, a series of applications written for financial services firms. The first application in the series is designed to facilitate the relationships between financial advisers and their clients.

Regions Financial in Birmingham, Ala., has hired a former Bank of New York Mellon executive as head of its corporate trust group.

Stock fluctuations will fuel investment banking fees in the short run, but a prolonged shock would complicate bank M&A and could tighten margins, crimp wealth management fees and present other risks.

Citigroup has agreed to refund $4.5 million to global markets customers who were charged excessive fees and did not receive appropriate rebates.

Envestnet's planned acquisition of Yodlee is shedding light on how real-time data about customers' financial data can shape the future of the wealth management and financial advisory business. Jud Bergman, CEO of Envestnet, says the deal will create "an unprecedented level of engagement."

Citigroup agreed to sell its Alternative Investor Services business to SS&C Technologies, a provider of software and investment services to the finance industry, for about $425 million.