Wealth management

Credit Suisse raided, client assets seized in tax probe


Credit Suisse, the second-largest Swiss wealth manager, faces a sweeping tax evasion and money laundering investigation spanning five countries and potentially involving thousands of account holders.


Feds finger North Korea in hack; Deutsche's next chief?


The Justice Department believes that Pyongyang was behind last year's New York Fed heist; Marcus Schenck, DB's CFO and deputy CEO, may be next in line to head the big German bank.


Why Bank of the West is flaunting its global reach


The San Francisco firm unveiled a new logo that prominently depicts its connection to its longtime owner, BNP Paribas. In doing so, it is wagering that any fallout from negative public perceptions of global megabanks will be outweighed by new opportunities to generate revenue.


Citi names Piazza permanent head of fintech unit


Yolande Piazza has been serving in the role on an interim basis since Heather Cox left for USAA.


Meridian Bank in Pa. to buy wealth management firm


The bank will have $700 million in assets under management after it buys HJ Wealth Management in Pennsylvania.


SunTrust probed over mutual fund sales


The SEC is investigating the bank for selling clients mutual funds that charge marketing fees when other, cheaper funds were available. SunTrust expects an enforcement action.


Rally in U.S. bank stocks flummoxes Canadian acquirers


CIBC’s CEO vows to stay “disciplined” in his bid to buy PrivateBancorp, even as some of the Chicago bank’s investors say the deal is insufficient. The head of RBC, meanwhile, said it will pursue organic growth instead of acquisitions, at least for a while.


RBC's U.S. expansion paying dividends


Canada's largest lender reported double-digit profit growth in its latest quarter in part because of CEO David McKay's focus on expanding in private wealth and commercial banking in the U.S.


CIBC’s profits soar on wealth management, one-time gains


CIBC reported strong first-quarter numbers across the board in the kickoff of Canadian banks’ earnings season.


Slow growth in wealth management forcing small banks to make tough choices


Some banks are looking to hire advisers or buy firms, while others are looking to get out of the business entirely.