Bank Channel

Updated Thursday, May 23, 2013 as of 6:03 PM ET

Bank Channel

Wall Street Seeks to Change Dodd-Frank Rules Via Trade Deals

(Bloomberg) -- U.S. bankers and insurers are trying to use trade deals, which can trump existing legislation, to weaken parts of the Dodd-Frank Act designed to prevent a repeat of the 2008 financial crisis.

While the companies say they are seeking agreements that preserve strong regulations and encourage economic growth, their effort is drawing fire from groups who argue that Wall Street wants to make the trade negotiations a new front in its three- year campaign to stop or alter the law. more »

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Wells Fargo Hires Edward Jones Vet

Wells Fargo added a former Edward Jones advisor in Hudson, Ohio. more »

Bernanke Sharpens Focus on Interest Rate Risk

Federal Reserve Board Chairman Ben Bernanke told lawmakers that his concerns about financial stability risks from historically low interest rates have "increased a bit." more »

Citi Drives Effort to Pair Bankers and Advisors

Under a new program, advisors and relationship managers will team up to serve clients as equal partners. more »

Bank Wealth Management Income Hits Record High in 2012

In 2012, bank holding companies earned a record $122.3 billion from their wealth management programs, up 3.3% from $118.4 billion in 2011. more »

BNY Mellon Increasing Wealth Unit Sales Team 50% in Revenue Push

Bank of New York Mellon is hiring as many as 100 people in its wealth-management unit as it seeks to counter lackluster earnings in other businesses. more »

Old Branch Designs 'Are Toast': Umpqua's CEO

Umpqua CEO Raymond Davis expects banks to focus on customer service and building smaller branches in the years to come. more »

Trailing Production Prevails in Bank Advisor Pay

Bank advisors producing $120,000 in revenue had an average payout of 20% last year; those producing more than $2 million averaged 41%. more »

BNY Mellon Wealth Management Adds Sales Director in NY

Debralee Nelson, a recruit from J.P. Morgan Chase, will drum up business among ultra-high-net-worth clients in the New York Tri-State region. more »

Wall Street Wins Rollback in Dodd-Frank Swap-Trading Rules

JPMorgan Chase & Co., Goldman Sachs Group Inc. and the world's largest banks won rollbacks in final Dodd-Frank Act rules that promise to transform the private swaps market by increasing competition. more »

Webster Private Bank Names Chief Investment Strategist

Yves Cochez will manage the bank’s portfolio management team and set the overall direction of investment management for high-net-worth clients. more »

U.S. Bank Heats Up Marketing to Promote High-Net-Worth Business

Amid intense competition for high-net-worth clients, the Private Client Reserve is ramping up its marketing efforts to differentiate itself from rivals. more »

BNY Mellon Wealth Management Boosts Sales Efforts in Southern California

The firm has hired four wealth sales directors in Los Angeles and Newport Beach to drum up business. more »

Bucket of Likely Bank Failures Nearly Empty

There were a dozen critically undercapitalized banks at the end of the first quarter, according to Trepp, a data analysis firm in New York. Regulators are compelled to close banks when their capital gets that low. Several have failed in recent weeks, while one found a buyer. more »

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