Managers of Wealth Americas

BNY Mellon profit falls 20 percent on lower fee revenue

Bank of New York Mellon Corp reported a 20 percent fall in quarterly profit on Wednesday, as the world's largest custodian bank's fee revenue declined.

BNY Mellon

During the quarter, we generated more than $900 million of earnings and continued to return a significant portion of that to our shareholders.

JPMorgan Chase earnings rise, upbeat on US economy

A key factor was increased net interest income

For the third year in a row, hiring and developing talent is the top business challenge for elite advisory firms: The 2019 Elite Advisor Poll

For the majority (59 percent) of executives responding to the poll, the main challenge in hiring women and ethnic minorities is the lack of enough qualified talent from these pools.

Investment banks, asset managers shedding jobs

Over at JP Morgan Chase & Co, about a hundred staff in its asset and wealth-management division have been told to go in late March after a periodic review of staffing.

UBS Fires Investment Banker

The investment banker denied the allegation and will fight the dismissal.

Morgan Stanley Asia-Pacific Fund, Inc. Announces Information Regarding Reorganization

The Fund is a diversified, closed-end management investment company that seeks long-term capital appreciation through investments primarily in equity securities of Asian-Pacific issuers and in debt securities issued or guaranteed by Asian Pacific governme

Ex-Morgan Stanley Banker Is Leading the Charge Toward Boutiques

May Nasrallah is taking on financial goliaths in the Middle East.

BTG Moves Beyond Volatile Past in Shift That Downplays Trading

Bank emphasizes its asset- and wealth-management businesses

Deutsche Bank makes strides in US leveraged lending

The leap comes as Deutsche Bank and Commerzbank have begun discussions over combining the two largest banks in Germany, as reported by Reuters.

Wells Fargo Further Advances Brand Redesign to Its Asset Management Business

New WFAM brand identity includes an enhanced digital experience focused on helping clients pursue their desired investment outcomes

Citi to Roll Out Digital Financial Planning Platform

The clients’ financial advisors or “relationship managers” will be able to follow the plan and “recalibrate” it based on the client’s changing needs and financial situation, Citi says.

A new Bank of America blockchain patent intends to transform the cash handling process

Blockchain, in particular, has significant potential for transforming the banking industry.

Goldman's China-backed fund bucks trade tensions to buy U.S. firm

The fund invested alongside Goldman to buy Boyd Corp, a Pleasanton, California-based manufacturer of rubber seals and gaskets, for $3 billion last September, the sources said.

Goldman Sachs wants half of new recruits to be women

Managers will be asked to interview two or more "qualified diverse candidates" for all non-entry level associate, vice president and managing director positions, according to the memo.

BNY Mellon Debuts Service to Evaluate Environmental, Social and Governance Factors in Investment Performance

BNY Mellon clients will have the ability to view their total ESG and UNGC scores on equities at the account level versus relevant benchmarks over time.

JPMorgan Chase rolls out checking for low-income customers with no overdraft fees

Chase Liquid customers can keep their current accounts, but new customers will not be able to open a Chase Liquid account moving forward, the bank said in a statement.

Deutsche Bank loaned more than $2 billion to Trump over two decades: NYT

According to the newspaper, in some instances, Trump exaggerated his wealth and promised to reward bankers with a weekend at Mar-a-Lago — his private club in Palm Beach, Florida — in order to get loans.

At Goldman Sachs, the future is half female when hiring workers

Blacks or African Americans represent 5.4 percent of Goldman's employees, and 2.9 percent rank as top executives or managers.

WSFS Bank Organizes Corporate Trust and Institutional Services Under New Name

We have developed a strong and successful national and international business in WSFS Institutional Services, and we are excited to align it more closely with the WSFS brand.

Investment Banking