News Topic: Wealth management

Barry Sommers, a former head of wealth management at the New York bank, is the latest high-level hire by Wells CEO Charlie Scharf. ... Read full article

In wealth management and consumer lending, banks are starting to win back clients they had been losing to startups. ... Read full article

Our second monthly survey found a smooth transition to remote work and digital customer access channels — but technology issues still arose. The pandemic has highlighted the importance of having a strong digital presence across all retail sectors, ... Read full article

The Illinois company will sell Bates Cos. to an undisclosed buyer less than two years after buying the wealth management firm. ... Read full article

David Solomon says he isn't feeling any pressure from Morgan Stanley's latest move. ... Read full article

The Wall Street giant will inherit some $56 billion of low-cost deposits that will allow it to offer more traditional banking products to its wealth management clients. ... Read full article

The all-stock takeover would add E*Trade’s $360 billion of client assets to Morgan Stanley’s $2.7 trillion. ... Read full article

Mike Weinbach will lead consumer lending as part of a reorganization that will change the responsibilities of three longtime bank executives. ... Read full article

Companies that scored highest in this year’s Best Fintechs to Work For ranking go beyond the basics of strong pay packages, generous benefits and effective leadership to take a more holistic interest in their employees’ lives, according to the data. ... Read full article

The bank is offering big bonuses to hire new financial advisors; recent share repurchases have raised the cost of future rebuys. ... Read full article

The move by the European bank regulator is a policy shift as profitability at the region's banks continues to suffer from negative rates; the German bank paid $1.1 million to win business from a senior Saudi royal. ... Read full article

The Providence, R.I., bank said that Rick Suarez would succeed Rob Clarfeld as head of Clarfeld | Citizens Private Wealth. ... Read full article

But some industry watchers are tempering expectations, saying that the language is too vague to know for sure if China is serious about introducing more foreign competition. ... Read full article

New tech like APIs and artificial intelligence will help consumers manage all their finances through an app, rather than just transfer funds. ... Read full article

The Pennsylvania company gained $67 million in assets under management as part of the acquisition. ... Read full article

Washington Trust warned that it could lose $3 million in annual revenue after two top advisers left to join a brokerage firm. Other banks are facing similar hits. ... Read full article

Why the Toronto bank is focusing on digital features; complaints about credit monitoring plans flood CFPB; the strategies midsize banks are relying on to stimulate growth; and more from this week’s most-read stories. ... Read full article

The Los Angeles bank is taking its wealth management and entertainment financing businesses to Miami and Long Island as part of its effort to expand nationally. ... Read full article