Wealth management

Toronto-Dominion Bank's expensive foray into the U.S. was supposed to supercharge its growth. Instead, it's become a drag on profitability and badly dented the lender's reputation.

Regions Bank hires next corporate banking group leader from within; Detroit CU names its first-ever woman CEO; United Community raises its quarterly dividend; and more in this week's banking news roundup.

Berkshire Hathaway trimmed positions in Capital One and Bank of America in the last several months, public filings show.

Regulators have been working their way steadily down from the biggest players in the industry to regional firms in their quest to stamp out abuses of "off-channel" communications.

The infrastructure fund dubbed BXINFRA targets individuals with at least $5 million of investments.

Researchers wonder if similar regulatory attention could eventually hit the bottom lines of independent broker-dealers and RIAs.

Shares in U.S. banks weren't immune to a global market sell-off, as worries mounted over whether the U.S. economy's recent resilience is faltering. The turmoil hit some tech stocks hard and led to the worst day for Japanese stocks since the 1980s.

South Carolina's Optus Bank appoints Benita Lefft its new president; B2B marketplace DesignRush releases its hottest states for digital business growth; Morgan Stanley announces Ellen Zentner's newly created team within the bank's investment wing; and more in the weekly banking news roundup.

CEO Ron O'Hanley touted an "encouraging financial performance" at the $326 billion-asset custody giant due to asset inflows and a jump in income from securities and loans.

The Wall Street investment bank saw its profits rebound in the second quarter as last year's decline in mergers continued to thaw. "The game will have to go on because there's just been so much activity that has been suppressed," said CEO Ted Pick.