Managers of Wealth Americas

Bank of America ends practice involving 'zombie accounts'

The threat of such fees also deters some customers from changing banks, they said.

Breaking up is hard to do, especially for banks

Indeed, the stink is now so bad that some people are calling for the re-introduction of Glass-Steagall, a post-Depression set of rules that erected a strict divide between Main Street and Wall Street banks, or something similar.

Citi wins 26 Global Finance Awards

Citi Asia Pacific was a big winner in this year’s Global Finance magazine’s annual World’s Best Internet Banks, hauling a total of 26 awards across the corporate/ institutional and consumer banks categories.

Barclays Cheaper Than Peers Fuels Breakup Talk: Real M&A

David Walker, the former Bank of England executive director named chairman of Barclays last week, is joining the company as lawmakers reignite calls to separate consumer and investment banking operations after the resignation of its top three leaders.

Buffett’s Other Bank Stock: How U.S. Bancorp Outperforms Wells Fargo and the Industry

Management reiterated in its second quarter conference call that those ratios are at the low end of long-term targets of 1.6%-1.9% on return on assets and 16%-19% for return on equity.

Smith Barney to Retire Next Month

Change to Coincide With Morgan Stanley Purchase of Additional 14% Share in Broker From Citigroup

Whale's Tail Hits Bank on Buyback

The developments came as the New York company tried to unwind a series of problematic positions taken by a trader in the bank's Chief Investment Office nicknamed the "London Whale" for his outsize market bets.

Investment Managers are Poor Market Timers

A mountain of evidence exists that confirms this fact. Nonetheless, managers continue to charge hefty fees to convince gullible clients otherwise.

Barclays expects Citi to book $6B charge in 3Q

Citigroup had noted earlier this year that it believed it might have to book a temporary impairment charge, but said it was not material.

Citigroup Seen Booking $6 Billion Charge on Smith Barney Venture

The charge would be more than double the third-quarter average profit estimate of $2.88 billion by 13 analysts in a Bloomberg survey.

Wells Fargo's potential legal losses rise in Q2

The San Francisco bank said its "reasonably possible potential litigation losses" in excess of second-quarter legal reserves jumped 30 percent from the first quarter, to as much as $1.2 billion.

Jefferies Vies With Goldman for Highest Wall Street Pay

Jefferies set aside $870 million in the first six months of its fiscal year, enough to pay its 3,809 employees an average of $228,407. Goldman Sachs set aside $225,789 for each of its 32,300 workers.

Janus Capital reports 2Q results

Flows and Assets Under Management Average assets under management during the second quarter 2012 were $155.0 billion compared with $158.9 billion during the first quarter 2012 and $171.6 billion during the second quarter 2011.

Citigroup's Sandy Weill backs separation of high street and investment banking

Banker who once encouraged the US to repeal the Glass-Steagall Act suggested that the types of financial firm he had helped to create should now be broken up

Evercore Partners Reports Second Quarter 2012 Results; Quarterly Dividend of $0.20 Per Share

Evercore's quarterly results may fluctuate significantly due to the timing and amount of transaction fees earned, as well as other factors. Accordingly, financial results in any particular quarter may not be representative of future results over a lo

Citic Securities to Acquire Credit Agricole's CLSA unit‎

Chairman Wang Dongming entered exclusive talks with Credit Agricole in March over the French bank’s remaining CLSA stake to add overseas research, brokerage and investment banking to Citic Securities’s operations.

U.S. Banks Spawn 10,000 Units to Cut Tax Bill

Critics including Thomas Hoenig, a Federal Deposit Insurance Corp. board member, say the biggest firms are too complicated to manage.

Europe's banks stage U.S. retreat

Bank failures, asset writedowns and the sale of loans and businesses have sent US assets of eurozone banks tumbling by $540bn from their $1.51tn peak in September 2007.

Oppenheimer Reaches Deal With RBS Citizens on Mid-Market Clients

“We focused on the two areas of financial advisory and equity capital markets because those were areas that we saw as imminent needs of our customers,” Matthews said in a phone interview. “It was a nice dovetailing of interests and capab

Morgan Stanley closes a bleak bank earnings season

The report capped a dismal season for the banking industry.

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