Wealth management

Deutsche Bank promoted Charlie Burrows to oversee the expansion of the bank’s wealth management unit across the southeastern U.S., as the German lender builds out its business of catering to the ultrarich.

The advisors’ success offers lessons for aspiring wealth professionals and brokerages aiming to change a predominantly white and male industry.

This elite group of young wirehouse and regional employee representatives collectively generate more than $200 million in annual revenue.

UBS agreed to buy the U.S. robo advisor Wealthfront for $1.4 billion in cash, the first major acquisition of a fintech company under Chief Executive Ralph Hamers.

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.