Wealth management

Bank of New York Mellon Corp. and Northern Trust Corp. plan to focus on internal growth until economic conditions steady rather than match some of their competitors' avid search for acquisitions.

Northern Trust Corp. announced Tuesday that its chairman, William A. Osborn, plans to step down on Nov. 11.

State Street was the first trust bank to present 2Q earnings, and its chairman and CEO Ronald Logue set the stage for the rest of the industry by sketching out ...

Lehman Brothers Holdings Inc. is seeking bankruptcy-court approval to pump up to $950 million into its struggling Delaware banking subsidiary so it can pay off more than a half-billion dollars worth of brokered certificates of deposit set to come due next month.

Citigroup has tapped Ian Maynard from Nomura International for its prime brokerage arm, the business that provides lending, clearing and settlement services to hedge funds, a source close to the situation has confirmed to Investment Dealers' Digest.

Being a certified public accountant helps Rhonda Arnett in her work as a Primevest adviser at Columbia State Bank in Tacoma. It's especially helpful for the wealthy clients she now serves as a partner to private and commercial bankers.

Wilmington Trust Corp. announced Friday that it expects to report lower-than-anticipated second-quarter results.

By consolidating its insurance, wealth and investment units, Bank of the West of San Francisco increased the rate of referrals from bankers in the past year.

Legg Mason Inc. has launched an exchange offer for up to 95% of its equity units in the form of corporate units, in order to increase its equity capital levels and lower debt and interest expenses.

Armed with additional capital and operating under an interim chief executive, Janus Capital Group Inc. has a long climb ahead for a recovery.

A decline in world equity markets has forced investors to sale back their risk taking and return to recession-proof stocks, according to Merrill Lynch's monthly survey of fund managers.

For anyone in a rush to snap up wealth management firms, or who thinks Wilmington Trust Corp. is poised for a buying spree, Ted T. Cecala says think again.

Working with elderly clients can be challenging, but by networking with the right contacts and involving clients' heirs, some bank advisers are developing a lucrative and self-feeding business.

Envestnet Asset Management Inc. of Chicago announced it enhanced its unified managed account platform to let advisers build customized UMA's from more than 1,200 investment products.

BlackRock Inc. will get at least $71 million in the first year of contracts to oversee assets previously owned by Bear Stearns Cos. and American International Group Inc.

More investment managers expect corporate earnings to increase in the next three months, and a majority expect global gross domestic product growth to accelerate in the next six months, according to a survey conducted by Northern Trust Global Advisors.

Charles Schwab Investment Management Inc. said Monday that it has renamed the UBS U.S. Large Cap Growth Fund the Laudus Growth Investors U.S. Large Cap Growth Fund.

MainStay Investments, New York Life Insurance Co.'s proprietary fund unit, is actively embracing banks for the first time, but in way that minimizes costs in uncertain times.