The London company poured cold water on speculation a deal to divest its 152-branch network in the United States was imminent. But biding its time here while focusing on issues in other parts of its global operation could drive up the price in a seller’s M&A market.
A race for talent is heating up as Wells Fargo winds down the roughly $40 billion international segment of its wealth management business, with several firms competing to scoop up advisers and their lucrative client lists.
Flush with capital from issuing subordinated debt, Peapack-Gladstone is exploring acquisitions in Florida and New York in an effort to generate more fee revenue.
The new global wealth division, which is being formed by combining the firm’s private bank with a unit that serves substantially less wealthy households, will be led by Citi veteran Jim O’Donnell.
Acquiring Boston Private could put the parent company of Silicon Valley Bank years ahead of schedule in catering to the investment needs of high-tech and biomedical clients, whose industries have thrived during the pandemic.
JPMorgan Chase is seeking to establish another Chinese joint venture in wealth management as the nation's financial opening has spurred a rush by global banks to capture a piece of a market that is estimated to grow to as much as $30 trillion in 2023.
The California company, which focuses on technology companies and entrepreneurs, will make a big push into wealth management as part of the proposed acquisition.
The Office of the Comptroller of the Currency says JPMorgan Chase’s fiduciary unit lacked sufficient controls to manage risk and avoid conflicts of interest.
