Wealth management

Veterans of the dot-com bubble of the late '90s, the early 2000s recession, the 2008 financial crisis and COVID-19 shutdown of 2020 say the more things change, the more things stay the same.

Wall Street continued its sell-off of financial institutions as the increasing likelihood of a U.S. recession fuels fears of revenue pressures.

Fears of a recession intensified after President Trump unveiled his plan to impose a minimum 10% tariff on all U.S. imports, and the KBW Nasdaq Bank Index tumbled by nearly 10%.

The trading app provider has debuted wealth management services, and will be rolling out banking and new AI-powered investment tools later in the year.

Royal Bank of Canada executives said they plan to start originating more mortgages in the United States, and they indicated that they may ditch the City National Bank brand.

The looming initial public offering from Swedish payments firm Klarna comes in the foreground of tariff uncertainties and inflationary pressures.

BMO names Tony Sciarrino head of its U.S. commercial bank; Renasant receives regulatory approvals to complete its pending acquisition of The First Bancshares; Arkansas classifies earned wage access as a financial product; and more in this week's banking news roundup.

Federal Reserve policymakers said that the U.S. economy remains on sound footing, despite recent setbacks, and that two interest rate cuts lie ahead. Bank stocks advanced on hopes for loan growth and more M&A.

The hires, meant to shore up a division that has not been as tech-forward as leadership would like, have included Morgan Stanley and J.P. Morgan veterans.

Disaster relief is capturing a large share of philanthropic giving from banks such as Truist Financial and Western Alliance Bank.

The KBW Nasdaq Bank Index is down more than 7% year to date. Analysts blame confusion caused by President Trump's evolving tariff policies and heightened worries about an economic downturn that could hurt banks' credit quality.

Advisors were right not to recommend the decentralized cryptocurrency in the past. They can be right again by recommending it today.

Wells Fargo joins Bank of America, Citi and Charles Schwab in stepping away from its DEI policies.

The hiring comes roughly a month after Ida Liu resigned and the firm embarked on a regional restructuring.

Big banks are investing in quantum computing. What does that mean for the future of finance? And, more importantly, will they ever become useful?

Provident Bank announces its new chief lending officer; the SEC's acting chairman asks a federal court to delay scheduling cases involving a rule on climate-related disclosure; the merger deadline for Capital One Financial's proposed acquisition of Discover Financial Services is extended; and more in this week's banking news roundup.

Plenty, a finance app for couples, shifted from subscriptions to an investment advisory fee-based model to differentiate from other couples-focused fintechs.

Citi's head of wealth said the firm is already working with a quarter of the billionaires in the world through its private bank. Now it just needs them to entrust it with managing more of their money.

Titi Cole, a former executive at Citigroup, is now on the company's board of directors; Citizens Financial Group has formed a trust subsidiary as part of its wealth management and private bank expansion efforts; shareholders of Atlantic Union Bankshares and Sandy Spring Bancorp approved the two companies' planned merger; and more in this week's banking news roundup.