Wealth management

The North Carolina bank agreed to offload Sterling Capital Management to Guardian Capital Group in Toronto. It's the latest step in the effort to simplify Truist.

Greg Wilson of the Wall Street giant's Asset & Wealth Management unit wants to provide employees with tailored plans using a blend of technology and personal financial coaching.

Three-fourths of Gorman's bonus will be paid in deferred stock over three years, the New York-based firm said in a regulatory filing.

Industry recruiters see the changes as intended to make client assets and advisory teams "stickier" and to retain executive talent.

Two weeks after Ted Pick rose to CEO, the company slightly revised its long-term targets for efficiency, return on tangible common equity and other metrics. Yet, Pick says, "there's not a change in strategy" after the departure of his predecessor, James Gorman.

The KBW Bank Index posted a strong gain after a government report showed employers added 216,000 jobs in December. The labor market strength bodes well for lenders' credit quality but may delay highly anticipated interest rate cuts that would lower banks' funding costs.

In American Banker's Leaders Forum, our journalists interviewed top executives from across the banking and fintech sectors as well as regulators who keep them in line.

Two frontrunners have emerged as possible successors to the long-serving CEO, but even more potential candidates wait in the wings.

A new Cerulli report suggests that one of banks' best opportunities to grow in the coming years is right under their nose, with a client segment they often ignore.

Come the second quarter of 2024, JPMorgan Automated Investing will be no more.

Once considered key drivers of the boom in ESG investing, millennial and Gen Z investors no longer seem so supportive now that the economy is experiencing more turbulence, a new study finds.

The change comes over massive overhaul as the mega bank seeks to build divison under Sieg.

Wiggan is taking the place of Ray Chun, who will run the Canadian personal banking division.

The revamp will see Greg Olafson become global head of private credit from his current role as co-president of alternatives.

What do younger clients want from wealth managers? Katy Knox, president of Bank of America's Private Bank, sits down with American Banker Editor-in-Chief Chana Schoenberger to discuss the future of high-net-worth investing and what clients are looking for now.

Once the pace of private equity-backed sales of middle-market companies picks up, the Rhode Island-based bank expects to benefit. CEO Bruce Van Saun says that Citizens' recent expansions in private banking and wealth management will provide opportunities to cross-sell to corporate clients.

A small bank stock index posted its biggest gain of the year in early November before that progress faded. What will it take for investors to sustain confidence in the sector?

Los Angeles-based City National Bank recorded a $247 million loss during a tumultuous final quarter of its fiscal year. But executives at the bank's Canadian parent company say they expect a return to profitability in the first quarter.

Wells Fargo makes a $1.5 million investment in Black entrepreneurship; America Express promotes small businesses through augmented reality; shareholders approve the Banc of California-PacWest merger; and more in the weekly banking news roundup.

Medical debt affects 100 million Americans, totaling approximately $195 billion, according to KFF — here's how EarnIn wants to help.