Asset management

JPMorgan has ‘sense of urgency’ in search for acquisitions


JPMorgan Chase is stepping up its search for acquisition targets as competition intensifies from financial technology firms and other new rivals.


Wells Fargo sheds its asset manager as Scharf reshapes bank


Wells Fargo plans to sell its asset management business to two private equity firms, part of Chief Executive Charlie Scharf's efforts to dump nonessential operations and help the bank emerge from years of scandals.


BNY Mellon and Mastercard embrace crypto, sending bitcoin to record


The trust bank and the credit card company said they'll make it easier for customers to use cryptocurrencies. The announcements contributed to another jump in the price of the largest digital asset.


Goldman’s Sheila Patel, chairman of $1.8 trillion manager, to retire


Patel is among Goldman Sachs's most senior women and shepherded some of its highest-profile relationships with investors around the world.


Ameriprise, CI eyeing Wells Fargo's asset management arm


Wells Fargo, reeling from years of scandals, is unloading several businesses as it seeks to simplify its structure. The sale of the asset management unit could fetch more than $3 billion, according to industry sources.


State Street to explore options for asset management arm


The Boston-based firm has been informally working with an adviser to review strategic alternatives for State Street Global Advisors, including a merger with a competitor, people familiar with the matter said.


First Merchants to buy Indianapolis trust company


The Indiana company agreed to acquire Hoosier Trust, which manages about $300 million in assets.


Wells Fargo is said to discuss sale of its asset-management arm


Wells Fargo is exploring the sale of its asset-management unit, a business that could fetch more than $3 billion, according to a person briefed on the matter.


PNC Financial expands, diversifies executive leadership team


Less than three weeks after making a $1.05 billion pledge to fight racism, the Pittsburgh company promoted two Black bankers to its top-level management committee.


Is Goldman changing its tune?; The rise of credit unions


The bank is likely to tout asset management at its upcoming investor day; credit union assets have exceeded banks' growth in the past decade.