Wealth management

The Mastercard Foundation will provide $1.3 billion to support the coronavirus vaccination program in Africa, the continent with the lowest inoculation rate.

Rising inflation could lead to a rate hike, bolstering lenders' profits in 2022. Improved credit quality and an economic rebound are also fueling investment in the sector.

The London-based banking giant announced a plan this week to exit the mass-market U.S. retail business and focus on managing the wealth of affluent globe-trotters. But other international banks will provide stiff competition.

The London-based banking giant is selling 90 of its branches and shuttering about three dozen more. The 20 or so branches it is retaining will be transformed into international wealth centers.

Cypress Trust in Palm Beach is poised to pull off a rarity: the conversion of a wealth management firm into a community bank. It’s simply another way to take advantage of the ongoing melding of the two financial services sectors, CEO Dana Kilborne says.

Princeton Portfolio Strategies Group would become the sixth asset management business that the New Jersey banking company has bought since 2014.

Women in the United States have a lot in common when it comes to managing their money. They prioritize financial stability and nearly half equate negative emotions with financial planning - far more than men.

In partnership with the startup Hope Trust, the Chicago bank is piloting tools that will help people with disabilities, their families and caregivers manage their finances, government benefits and medical care.

At the brokerage and wealth management arm of Ally Financial, Bell leads the team responsible for shaping the insight on investing and the global markets that is shared with customers.

Ta is aiming to reduce turnover at Wells Fargo Advisors by revamping the succession planning program.

The company will start to offer insurance planning and risk management services as part of its purchase of Strategic Wealth Group in Valdosta, Ga.

The company, which has faced opposition from a big investor, had to reschedule its shareholder vote after it was unable to secure the legally required two-thirds backing of outstanding shares at an April 27 meeting.

Joe Skarda, who was previously managing director of JPMorgan Chase’s U.S. wealth management central division, will oversee a unit that houses Key’s private bank, family wealth and mass affluent business segments.

The Charlotte, N.C., company and the nonprofit Operation HOPE already partner to provide coaching at nearly two dozen counseling centers within Truist’s branches. They plan to add 26 more counseling hubs, serving 1,000 Truist branches, by 2025.

The San Diego company will pay $55 million to Morgan Stanley for a business that has 200 custody relationships, $23 billion of custodial assets and $1.2 billion of deposits.

After just 45 days on the job, the Citigroup CEO is jettisoning uncompetitive overseas operations, vowing to ramp up wealth management and touting the long-term importance of the company’s Banamex unit. More moves are on the way, she says.

Bank of Montreal agreed to sell its Europe, Middle East and Africa asset management unit to Ameriprise Financial for 615 million pounds ($847 million), marking CEO Darryl White’s biggest move yet to trim the bank’s portfolio of noncore businesses.

Too many Americans lack a sound grounding in personal financial management, which limits their opportunity to build long-term financial independence.

Jordan Summers, formerly the Detroit bank's chief fiduciary officer, succeeds Robert Sajdak as CEO. Sajdak recently retired after leading Credit Union Trust since its 2018 launch.

Business First Bancshares is counting on its acquisition of Smith Shellnut Wilson to help it offer more advisory services to commercial clients.