Wealth management

Policymakers signaled more reductions lie ahead, a development that could curb lenders' net interest income in the near term but support economic growth and credit quality.

Jim Rourke and Michael Liu will serve as co-heads of private client partnership development, linking Bank of America's investment bank, Merrill and the firm's private bank.

Jersey-based JTC will pay $80 million for Citigroup's global fiduciary and trust administration services business.

BNY has acquired managed-account software company Archer; Old National Bancorp has removed the "interim" tag from Chief Financial Officer John Moran; Royal Bank of Canada has done the same for Chief Financial Officer Katherine Gibson; and more in this week's banking news roundup.

Anticipated interest rate cuts could help stressed borrowers, but such a shift in monetary policy may curb lending income.

The South Carolina-based bank considers itself a buyer, but has put the 17 months since announcing its last acquisition to good use, reassessing multiple business lines and upgrading technology.

Underlying U.S. inflation unexpectedly picked up in August on higher prices for housing and travel, undercutting the chances of an outsize Federal Reserve interest-rate cut next week.

Berkshire Hathaway began selling BofA shares in July and has whittled its stake down to just above 11%.

Between TD Bank's $3 billion anti-money-laundering hurdle and BMO Financial Group's increased provisions for loan losses, here are the earnings highlights for non-U.S. banks.

From Citigroup's positive earnings butting up against fines from the Office of the Comptroller of the Currency to First Guaranty's 15% layoff, here are earnings highlights to be mindful of.