Through timely investments, opportunistic dealmaking and a laser focus on employee engagement, Turner has Wilmington, Del.-based WSFS on the cusp of becoming a regional power.
Nearly all banks need more fee income, and many have extra cash for investing in growth. Some have started buying up wealth management firms, while others have decided to pare back and specialize.
The financial system is safer than it was 10 years ago, says John Taft, vice chairman of Baird. But there are still risks lurking unseen in areas like ETFs,
The pressure is on for banks to lean more heavily on capital markets, wealth management and other nonmortgage sources of fee income. That could get tougher in upcoming quarters.
The firm is disbanding its consumer and commercial banking division and will make the Marcus brand one of the new business offerings that can be sold to its wealth management unit’s expanding roster of clients.
