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Nearly all the top bank insurance programs in the nation established a profiling process to gather data on their customers' life insurance needs, according to an industry study.
Rose Cohen will join Citi in August as managing director and ultrahigh-net-worth team lead in Washington, D.C.
Tim Killgoar, Raymond James' former director of client experience, will focus on strategic initiatives for the banks and credit unions the division serves.
The former leader of BISA's research arm and an ex-Comerica Bank wealth executive aim to help banks and credit unions compete more aggressively with wirehouses and independent firms.
The acquisition will give Infinex increased scale as third-party broker-dealers struggle to offset rising regulatory and tech costs.
Advisors at banks and credit unions are younger and more of them are women than those at wirehouses and independent firms, giving them an edge in attracting women and millennials.
Bryan Carnahan, a former advisor at Huntington Bank, allegedly stole nearly $170,000 from a customer's brokerage account to cover investment losses in other customers' accounts.
Richard Ohrn, a former broker with Chase and Wells Fargo in Boca Raton, Fla., was banned last week, 12 days after staging his disappearance at sea.
The firm has named Rebecca Gumley director of new business development with the firm's financial institution recruiting team.
David Paul Santos, a broker with Pioneer Bank in Troy, N.Y., was tricked by a hacker into wiring funds he shouldn't have—and ended up paying the price.
Bank wealth management businesses reeled in a record $143.2 billion in revenue in 2014, the most they've ever produced since tracking of the data started in 2007. Here are the top 12 banks whose programs achieved the greatest revenue growth.
Bank holding companies generated $143.2 billion in wealth management income, up 6.5% from 2013 and the most they've ever produced since the data started to be tracked in 2007.
The bank generated $98 million in first-quarter revenue from its brokerage, trust and insurance operations, up 10.1% year-over-year and up 7.7% from the prior quarter.
Revenue from trust and investment management services plunged 35% to $84 million from $130 million in the same quarter a year ago.
Revenue from wealth and investment services dropped for the fifth consecutive quarter, swooning 10.7% to $7.9 million from $8.8 million a year ago.
Michael J. Oppenheim allegedly used his position as a private client advisor to persuade at least two customers to withdraw millions out of their accounts on the promise the money would be invested in muni bonds.
The bank's brokerage services generated $67 million in first-quarter revenue, up 21.8% year-over-year and up 4.6% from the prior quarter.
Wealth management and securities services earned $59 million in first-quarter profits, up 13.5% year-over-year. Revenue rose 6.9%.
J.P. Morgan Private Bank and J.P. Morgan Securities generated $1.47 billion in first-quarter revenue, up 7% year-over-year.
Richard Ohrn, a former Chase and Wells Fargo broker accused of stealing money from customers, was discovered Sunday after staging his disappearance.