Banks
UBS to Raise Pay for Financial Advisors. The Change May Boost Retention.
The company’s new compensation plan aims to reward advisors who are growing their practices and bringing in new clients and more assets.
3 minute read
Record Number of Fund Managers Say Stocks Are Overvalued, Survey Finds
The net share of fund managers who say they are overweight stocks doubles from August, according to Bank of America’s monthly poll.
2 minute read
With New Venture Fund, Robinhood Aims to Give Retail Investors Access to Private Investments
It’s the brokerage firm’s first fund.
2 minute read
Fed’s Powell Faces a Power Struggle. Why the Outcome Is Key for Stock Markets.
China says Nvidia broke antimonopoly laws, health plan subsidies in play, bank merger market heats up, and more news to start your day.
Long Read
Bank of America Elevates CEO Contenders in Management Shuffle
The moves are the bank’s most significant set of senior management changes in four years.
2 minute read
Fannie Mae and Freddie Mac Should Stay Separate Companies: Mortgage Bankers President
Mortgage Bankers Association President and CEO Bob Broeksmit wrote a blog post responding to suggestions that the two might be combined.
3 minute read
A New Wave of Bank Mergers Is Just Getting Started
Regulatory restrictions are easing, and financial institutions are hungry for deals. The market reaction, however, hasn’t been completely positive.
Long Read
Clients Sue Berkshire Bank for Allegedly Enabling Massive Ponzi Scheme
The bank allegedly ignored internal and external warning signs about the accounts of Miles Burton Marshall, who is facing criminal charges.
3 minute read
Wells Fargo Picks Up an Ameriprise Team With $1 Billion in Client Assets
The 23-member team will join Wells Fargo’s independent broker-dealer channel, unusual among large banks.
1 minute read
AI Stocks Are Driving This Market Rally. Why It’s Not a Dot-Com Bubble Repeat.
Larry Ellison passes Elon Musk as world’s richest person, IPO mania returns, Labor Department investigates federal statistics gathering, and more news to start your day.
Long Read
Tricolor Files for Bankruptcy. The Auto Lender Was Once an ESG Favorite.
Tricolor, the subject of a 2022 Barron’s investigation, specialized in auto loans to customers lacking credit.
4 minute read
The Jobs Report Was Bad. It’s Hitting Bank and Brokerage Stocks.
Shares of Charles Schwab, Robinhood, and other financial companies tumbled on concerns about a weakening economy and the direction of interest rates.
2 minute read
Citi, UBS, U.S. Bank, Others Settle With CFTC for $8.3 Million
The agency signals a new approach to enforcement through settlements with financial companies over technical violations.
4 minute read
Citi Taps BlackRock to Invest $80 Billion of Client Assets
Citigroup is streamlining its wealth management business as BlackRock seeks to expand its private asset investments.
2 minute read
Apple, Meta, Google CEOs Dined With Trump. Where AI Trade Goes From Here.
Trump’s Fed dispute heats up, Broadcom reveals new $10 billion AI customer, Goldman to invest in T. Rowe Price, and more news to start your day.
Long Read
Goldman Sachs Will Buy $1 Billion of T. Rowe Price Shares in New Partnership
The two firms plan to launch co-branded model portfolios and target-date strategies that will give investors exposure to private markets.
4 minute read
Stifel Hires Launny Steffens, Ex-Merrill Leader and Co-founder of Spring Mountain Capital
Steffens will serve as vice chairman of asset management at Stifel, a newly created role.
3 minute read
The U.S. Has a Long History of Meddling in Businesses. It Hasn’t Always Gone Well.
Going all the way back to Alexander Hamilton, government has selectively backed industries and companies.
Long Read
Wyoming State Buys European Bank Stocks, Adjusts Healthcare Holdings
The state initiated a position in two European banks during the second quarter.
2 minute read
Falling Rates Breathe Life Into Regional Banking Stocks. What the Charts Are Saying.
Shares of Citizens Financial Group and M&T Bank look particularly interesting.
2 minute read
Citadel’s Ken Griffin on Markets, the Fed, and Building His Firm for the Next Century
Griffin’s ambition, strategic vision, and tech savvy have propelled Citadel into Wall Street’s upper echelons. This could be just the start.
Long Read
Why Warren Buffett’s Berkshire Hathaway Still Likes Japan
Berkshire’s move comes as Japan’s Nikkei stock index records gains of more than 10% over the past three months.
2 minute read
RBC’s Stock Rises After Earnings Beat. CEO Cautious on Trade.
The company benefited from strong performance from its capital markets unit.
2 minute read
The Fed Just Reviewed Its Strategy. What History Says Happens Next.
In 2020, the Fed said it would be willing to let inflation run hotter than target for a while until the long-run inflation rate returned to the desired 2% level. We all remember what happened next.
3 minute read
Union Push at JPMorgan Reveals Tensions Inside Bank
At JPMorgan Chase, software developers and investment banking associates are among the supporters of a union facing long odds of recognition from the top.
Long Read
