Wealth management

Led by Chairman Marshall Reynolds, the entire board of directors participated in a private placement that raised $10 million for the Hammond, Louisiana, company.

A pair of mutual banks in Maryland and New York that sold minority stakes more than a decade ago are pursuing second-step offerings that will result in both becoming fully stock-traded companies.

The product, designed for wealth management customers, is the first in the U.S. to implement Mastercard's Touch Card, which helps people distinguish credit, debit and prepaid cards through a notch on the card's edge.

The Seattle bank is a victim of the short selling that has rocked the banking industry this year and its stock price doesn't reflect its fundamentals, CEO Mark Mason argues.

Venture capital banking and wealth management are two areas where the nation's largest bank sees a chance to make gains amid a rash of bank failures. After the company's investor day on Monday, one analyst wrote: "Goliath is winning."

The banking giant plans to put all asset managers through training in Python programming language, whether they 'like it or not.'

James Gorman, who became CEO at the beginning of 2010, said early in the year that there are three finalists to take over when he leaves.

During the pandemic, many banks adopted programs that helped struggling families find stability. Make that a permanent strategy.

An emergency deal for First Republic Bank will help boost JPMorgan's wealth management business. But company executives acknowledge that there are questions about how many of the failed bank's clients and wealth advisors it will be able to retain.

The regional firm, whose parent is the 10th largest bank in the world by market capitalization, is eager to pitch top advisors seeking stability. At the same time, it's ramping up a major branding campaign with Major League Soccer and Apple to woo next-generation clients.

Wealth management lifted the firm's bottom line, as the unit's revenues rose 11% over the past year and it hauled in assets across multiple channels.

Morgan Stanley's investment bank and its giant wealth unit surpassed analysts' expectations in the first quarter even as profits fell from a year earlier, dragged down by a drop-off in dealmaking and a jump in loan-loss provisions.

Deposits at BNY Mellon stood at $281.3 billion, versus the average $277 billion forecast by analysts tracked by Bloomberg.

The Boston-based custody bank reported a 9% decline in fee income from a year earlier and a shift away from non-interest-bearing deposits that cost it millions in net interest income. As a result, earnings per share fell 12 cents short of analysts' expectations.

Though revenue growth remains a challenge, Citigroup is still committed to its global wealth management expansion plan, CEO Jane Fraser said Friday. Andy Sieg is joining the bank from Merrill Lynch in September as head of global wealth management.

The Columbus, Ohio, company expects to record a pretax gain of $57 million from the transaction, which will more than offset the costs of two other recently announced initiatives.

Some concerns linger over the sector after Silicon Valley Bank's collapse last month. The most pressing worry now, analysts say, is not whether banks will survive but how much money they'll make in the coming months.

Plaus had planned to leave the bank after March 31. But Merrill head Andy Sieg's sudden departure for Citigroup triggered an executive shuffle.