Treasury Secretary Janet Yellen said she prefers to have the Financial Stability Oversight Council flag hazardous activities by nonbanks rather than subject specific firms to heightened supervision. ]] ... Read full article
Highland Associates has $26 billion in assets under management on behalf of not-for-profit medical endowments and foundations. Regions Financial is following the lead of other regionals, which have been scooping up investment firms that specialize in ... Read full article
The Pittsburgh bank says it is selling the assets to Federated Investors to focus its PNC Capital Advisors unit on providing outsourced services. ... Read full article
The deal will give Janney greater access to the community banking sector. ... Read full article
Toronto-Dominion Bank agreed to acquire Greystone Capital Management in a push to become the largest Canadian money manager. ... Read full article
AssetMark Trust plans to offer a product for the $1 billion in cash it holds for clients. ... Read full article
Wealth management firm Boston Private has agreed to sell Anchor Capital Advisors to Anchor’s management team. ... Read full article
Rather than forming a consortium of peers to investigate blockchain technology, as many banks have done, one of the world's largest asset managers is acting on its own. ... Read full article
The authority of the Financial Stability Oversight Council to label a firm a “systemically important financial institution” triggers duplicative regulation even if bank-like rules are not appropriate to the company. ... Read full article
The term "shadow banking" is a pejorative, implying insufficient regulatory oversight, said Treasury in a report issued Thursday on asset management. ... Read full article
Murphy Capital Management in Gladstone, N.J., focuses on high-net-worth individuals, businesses and nonprofits. ... Read full article
Plimoth Investment Advisors, a firm owned by two mutuals in Massachusetts, is buying the business. ... Read full article
