Wealth management

China fintech firm Lufax raises $2.4 billion in U.S. IPO

10/30/20

Lufax, which was once among China’s largest peer-to-peer lenders, has morphed into a financial giant offering wealth management and retail lending services.

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Citigroup says private-bank chief Charrington is set to depart

10/23/20

Citigroup said Peter Charrington, global head of private banking, will leave to spend more time with family and pursue new opportunities.

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Credit Suisse set to hire former BofA investment banker Meissner

10/13/20

Credit Suisse Group is set to hire Christian Meissner, Bank of America’s former investment bank head, as it seeks to link up its richest customers with deals sourced by its securities unit.

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Wilmington Trust seeks rich clients through hires, acquisitions

10/05/20

Wilmington Trust, the wealth management arm of M&T Bank, is extending its hiring spree and considering acquisitions of registered investment advisers.

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Umpqua lines up sale of wealth management business

09/28/20

The pending sale of Umpqua Investments should free up funds for the company to invest in other businesses.

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UBS plans higher fees to push rich clients out of costly cash

09/09/20

The company and its global peers have seen their profitability hurt by half a decade of negative interest rates, which effectively make banks pay for holding clients’ cash.

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CIT sells wealth management business to FirstSun Capital

09/01/20

CIT inherited the business with its purchase earlier this year of Mutual of Omaha Bank.

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Bryn Mawr Bank shuts down investment advisory business

07/20/20

The Pennsylvania bank incurred $2.3 million in expenses in second quarter after winding down unit BMT Investment Advisers.

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Why Signature Bank is pressing ahead with West Coast expansion

07/08/20

The New York commercial bank says geographic diversification is a long-term necessity and that the interplay of its private banking and commercial banking businesses has helped it withstand the economic shock of the coronavirus.

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Financial services industry struggles to emerge from lockdown

07/07/20

Our third monthly survey found almost six out of 10 employers report that their plans for the return to work are stymied by uncertainty — specifically, a lack of clarity on the right timing, and persistent questions about how to provide a safe environment for their employees.

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