Wealth management

U.S. bank stocks are headed for their worst losing streak in a year, burning investors who bought shares on expectations that the Federal Reserve raising rates for the first time since 2018 would boost the sector.

Bank of America revamped leadership across its wealth management business, placing more responsibilities on current heads Andy Sieg and Katy Knox.

Apollo Global Management has launched a new direct lending platform that offers individual investors access to large corporate loans, making it the latest non-bank lender to try to take advantage of soaring demand for private credit.

Royal Bank of Canada Chief Executive Dave McKay said the lender may seek to add to its wealth management unit in the U.S. and Europe through smaller, targeted acquisitions.

Bank of America is donating $100 to local food banks and hunger-relief organizations for employees who register their COVID-19 booster.

Goldman Sachs is boosting its wealth management and consumer banking business as part of a strategy outlined by Chief Executive David Solomon to make it less reliant on trading.

Credit Suisse Group named Francesco De Ferrari to head its global wealth business and appointed new heads for the Americas and Switzerland, as the bank reorganizes after one of its most difficult years since the financial crisis.

The ruling may offer hope for Gwen Campbell, who alleges that JPM’s private bank is “poaching” and “siphoning” her celebrity clients’ assets away from her management and paycheck.

Bank of America is turning to private jets and exotic cars to compete with American Express and JPMorgan Chase and lure big spenders to its credit cards.

Banco Bradesco, Brazil’s second-biggest bank by market value, is partnering with the Miami-based fintech BCP Global to offer digital investments to upper-middle-class and rich Brazilians.