Wealth management

Bank of New York Mellon has become a big believer in reverse mortgages, particularly home equity conversion mortgages insured by the Federal Housing Administration.

Anthony Weagley is combining a new emphasis on wealth management with Malvern's reputation as a small-town community bank to bolster the Pennsylvania company's financial performance.

CEO James Gorman says the firm can achieve higher profit margins for the wealth management unit through greater expense discipline, additional growth of its lending business and unspecified digital opportunities.

Unfavorable equity markets and lower transaction volumes led Northern Trust Corp. to report a 2% drop in fourth-quarter profit.

In 34 years at American Express Co., Ken Chenault has helped reinvent the credit-card company more than once. But his latest push into new frontiers is faltering behind the scenes.

The Government Accountability Office will examine the role of the Centers for Medicare and Medicaid Services in helping state health insurance exchanges transition from state-based information systems to the federal program.

The Minneapolis bank has promoted longtime executive Andrew Cecere to president, a title held by Chairman and CEO Richard Davis for more than a decade.

The opportunity for banks from the dramatic growth in deposits goes beyond just funding loans.

The latest in BBVA Compass' ventures with fintech companies will bring it a simpler way to offer investment advice to the millions of households that typically don't qualify for it.

Johnson Financial Group in Racine, Wis., has agreed to buy the wealth management business of Cleary Gull Advisors.

First Republic Bank in San Francisco has appointed Katherine August-deWilde to the newly created position of vice chair.

First Republic Bank in San Francisco has appointed Katherine August-deWilde to the newly created position of vice chair.

Banks face immense challenges trying to keep up with technology, but they also must cater to older customers with big deposit accounts who still use their branch.

Boston Private Financial Holdings has appointed its chief executive, Clayton Deutsch, as CEO of its bank subsidiary, Boston Private Bank & Trust.

JPMorgan Chase investment bank head Daniel Pinto said internal technology projects, including those focused on blockchain, big data and robotics, will be a "major priority" next year.

State Street said it incorrectly invoiced at least $200 million in asset servicing expenses to clients over a period of 18 years.

TriState Capital Holdings in Pittsburgh has agreed to buy asset management firm Killen Group in Berwyn, Pa., for between $30 million to $35 million in cash, based on conditions tied to the asset manager's cash flow.

Moven will soon prompt its customers for usernames and passwords only for riskier transactions. By removing the login for most functions, the company aims to drive engagement in an app meant to be used on the go.

First Tennessee Bank has established a partnership with the nonprofit Operation Hope to offer free financial literacy workshops and counseling sessions in several branches.

Affluent customers deserve special attention, but banks have to think outside of the box to improve loyalty and customer satisfaction with this important customer segment.