Wealth management

No matter how good generative artificial intelligence gets, consumers navigating the purchase of complex financial products will always demand the attention of expert human advisors.

News of the delisting, prompted by ongoing delays related to filing its 2022 annual report, triggered a selloff of the Philadelphia-based company's battered stock.

Goldman Sachs Group is exploring a sale of an investment-advisory business it bought four years ago, undoing another signature deal under CEO David Solomon's ill-fated push to manage money for a broader set of customers.

JPMorgan Chase and Citigroup are funneling more investment into China, even as relations between the countries sour and Washington bans U.S tech investments that could bolster its rival's military capabilities.

During the recent banking crisis, both businesses and wealth management clients moved their money out of banks. Commercial deposits have since recovered, but those in wealth accounts continue to decline amid fierce competition from both inside and outside the banking system.

The Wilmington, Delaware, bank announced this week that it had purchased Bell Rock Capital. WSFS' management says that legal troubles involving that investment advisory firm's founder won't affect the transaction.

First Foundation lines up James Britton as its next CFO, AI wealth-platform TIFIN announces additions to its executive leadership team and more in the weekly banking news roundup.

Lisa Opoku follows Julian Salisbury out the door of the Wall Street stalwart.

The regional bank said dozens of new hires give it a major presence on both coasts, and it plans to build out its team of advisors and its private banking products.

Executives say Bank of New York Mellon can maintain its upbeat forecasts on net interest income and perhaps beat its expense-control goals. However, they warn deposits could shrink in the second half.