Wealth management

Wells Fargo said it does not have any immediate plans to acquire a wealth management business in the U.K., following media reports that it's looking at two companies.

Dave McKay, the president and CEO of Royal Bank of Canada, has spent much of his time as head of the second-largest Canadian bank plotting the acquisition of the coveted $36 billion-asset City National in Los Angeles. Now he has to execute on a strategy of cross-selling products to affluent customers of both banks while expanding geographically.

USAA has partnered with Coinbase to let users view their bitcoin wallet balances, an added financial management tool indicative of a kind of bundling of non-bank financial services it hopes will differentiate it from its competitors.

Although millennials are less trusting of financial advisors than older investors, there are still ways for wealth management firms to court younger clients.

Wells Fargo is ready to recruit more than 200 brokers from Credit Suisse's U.S. private banking unit set to close early next year, with the Swiss bank's blessing.

Nobody thought it would be pretty, but last quarter's results were even worse than expected, and low fee revenue is largely to blame. Trading and mortgage banking were particularly bad, and few of the big banks managed to offset the declines.

Wells Fargo plans to systematically poach Credit Suisse's private brokers in the U.S. and their clients — and the Swiss bank is OK with that.

The widespread adoption of online and mobile banking has largely happened at a time when rates have been near zero. At some point, rates will rise and the value of the experience will be pitted against the value of a yield for depositors. Rate-hoppers will be able to move at an unprecedented speed.

Driven by solid gains in both interest and noninterest income, Northern Trust Corp. in Chicago reported a profit of $234.6 million in the third quarter, up 15% from the same period in 2014. Earnings per share climbed 14%, to 96 cents, in line with the estimates of analysts polled by Bloomberg.

Bank of New York Mellon, the world’s second-largest custody bank, reported a third-quarter profit that beat analysts’ estimates as the company cut expenses to offset the impact of lower interest rates.

Wealthy women don’t necessarily think they do well managing their own money, according to a new study by Regions Financial.

Profits at First Republic Bank fell slightly in the third quarter as increased salary and benefits costs and a decline in noninterest income could not offset strong growth in loans, deposits and wealth management assets.

Results from the largest U.S. bank, and the first major player to report on its latest quarter, showed widespread revenue strains and only added to questions about the industry's growth prospects in the near future.

Barclays Chairman John McFarlane's three-month hunt for a chief executive officer with a new set of skills has led to a familiar form of talent: an American investment banker.

Cullen/Frost Bankers will consolidate about 175 employees at a new office tower in Fort Worth, Texas, for which it will also be the anchor tenant.

Boston Private Financial Holdings has appointed a Silicon Valley executive to its board.

Relationship and people skills certainly remain important, but today's wealth management leaders require far more than those largely sales-oriented abilities.

Robo-advisers have myriad conflicts of interest and fall short of the standard of care under fiduciary investment law. The Labor Department's endorsement of these algorithmic investment guides seems curious and misplaced.

Lebenthal Holdings, the family-owned wealth management firm run by Alexandra Lebenthal, has hired former Ally Bank chief Barbara Yastine to be co-chief executive.

Banks worldwide are in danger of losing significant profits in several lending areas to nonbank alternative lenders, according to a McKinsey study.