Wealth management

Analysts have been debating the impact on household finances and the economy as Americans resume student loan payments. There's already a squeeze from higher interest rates, which are expected to slow consumer spending and economic growth.

As CEO, Gary Fukuroku has helped turn the Hawaiian-based institution into one of the largest in the state and has raised significant funds to help those affected by this year's wildfires.

Amid a deal drought that has dragged on for more than a year, Wells Fargo is cutting 40 to 50 jobs in its corporate and investment bank division, say people with knowledge of the decision.  

The new chief financial officer, Chris Doll, is City National's third recent hire from Fifth Third. At yearend, he will succeed John Bai, who spent close to a decade in roles with Royal Bank of Canada and City National.

Flagstar Bank promotes newly hired Jason Birnbaum; Finstar Financial tops $1billion-asset threshold with acquisition of Sitgler; digital platform Bluevine launches checking account for high balances; and more in the weekly banking news roundup.

Officials are looking into the banking giant's anti-money laundering measures with clients outside the U.S.

The brokerage's managing partner talks about AI in wealth management, inflation, and her work on the St. Louis Fed board, in conversation with American Banker Editor-in-Chief Chana Schoenberger.

The Zurich-based bank posted a net loss of $785 million for the three months to September, its first quarterly loss in almost six years, as costs to absorb Credit Suisse came in at $2 billion. However, client inflows in its wealth management business — which included $3 billion of that was at Credit Suisse's wealth arm — exceeded expectations.

The 16-year-old site struggled to monetize, but experts said personal financial management products should focus on engagement.

Umpqua Bank introduces retail banking in Utah, Kansas City CUSO ex, Huntington Bank looks within for new chief DEI officer and more in the weekly banking news roundup.

Two-thirds of American adults report experiencing financial trauma in their lives, and the vast majority say they are still feeling its negative effects. Improving financial literacy can help.

Pick, 54, a co-president and three-decade veteran of the firm, will be elevated to the top role in January and join the board, the bank said. Gorman, 65, will stay on as executive chairman.

As Chief Executive Officer Christian Sewing doubles down to lower expenses and increase profitability, a new round of cuts is expected to exceed the 800 announced in April.

Other regional banks are vowing to cut costs, but Huntington Bancshares CEO Steve Steinour says the Columbus, Ohio-based lender is well positioned to "play offense" in 2024.

The founder of an ETF that tracks all American public companies with female CEOs sits down with American Banker Editor-in-Chief Chana Schoenberger to discuss why it matters if a company has a woman as CEO.

Executives of the $405 billion-asset bank say that they have completed 40% of a cost-cutting strategy begun earlier this year.

What is digital disruption in 2024? Neesha Hathi, shares how Charles Schwab is taking innovation to the next level in wealth management

Rasmussen, a Minnesota native, started her professional career as a dental hygienist. After a series of twists and turns, she now runs Thrivent, a multibillion-dollar fraternal benefit society.

At the Most Powerful Women in Banking conference, asset management leader Jenny Johnson discussed opportunities and risks for portfolio managers in 2023.

Employees are still struggling with their financial obligations, and less than half feel good about their financial situation.