Wealth management

After taking incremental steps to bolster its wealth management business, the Rhode Island bank is preparing to roll out a broader strategy focused on high-net-worth clients.

Hybrid working made it easier for some women to pursue a career while balancing family demands but a renewed return-to-office push may reverse some of those gains, a report predicted.

Bessant has served in a variety of leadership positions at the bank, including leading its technology initiatives and European strategy.

Half a year after it swallowed up Silicon Valley Bank during the spring banking crisis, First Citizens Bank is blending the former SVB Private into its wealth business.

Labor Day Weekend saw more than 7,000 advisory firms and millions of clients make the move from "green" to "blue."

UBS is trying to retain many of Credit Suisse's most senior wealth bankers, but the decision to bring Babak Dastmaltschi on board, who catered to tycoons emerging from the collapse of the Soviet Union, may raise eyebrows.

The planned sale marks another step for the Wall Street giant away from previous plans to work more with retail customers.

The company is paying $75 million in penalties and restitution in connection with SEC allegations that its investment advisory arm overcharged customers it inherited in its Wachovia acquisition in 2008. The settlement is said to show the importance of conducting extensive compliance checks in a rapidly consolidating industry.

The company's U.S. banking unit, which focuses on wealth management, reported a $38 million quarterly loss. Executives said they're cutting staff in an effort to right the ship, but analysts questioned whether the expense cuts are aggressive enough.

The company is ditching standard account packages and will instead adopt "relationship tiers" that are based on customer's deposit and investment accounts.