Results for "citigroup inc"

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Broker protocol: Indecision over recruiting agreement is rampant

February 24, 2018

When Morgan Stanley exited an industry agreement late last year that makes it easier for brokers and advisers to move to new firms, it upended 14 years of peace among the largest brokerages. Thousands of retail brokers and wealth management...

JPMorgan's Dimon extends reign as best-paid Wall Street CEO

February 16, 2018

For the second straight year, Jamie Dimon was the highest-paid chief executive officer of a Wall Street bank, while Michael Corbat got the biggest raise for 2017. Mr. Dimon, the JPMorgan Chase & Co. CEO, was paid $29.5 million, a 5.4% raise...

In deregulated environment, Ameriprise may be moving back into retail banking

February 16, 2018

Ameriprise Financial Inc. is exploring the idea of getting back into the banking business, which could boost the firm's profitability. The brokerage and insurance giant had its own bank prior to the credit crisis but wound down that operation...

Morgan Stanley dropping some overseas wealth customers

February 16, 2018

Morgan Stanley told some of its international wealth-management clients to liquidate their accounts or shift to another financial institution within 30 days. "Serving the investment needs and opportunities unique to clients who reside outside...

Wall Street's volatility time bomb

February 7, 2018

It was the hot trade on Wall Street, a seemingly sure thing that lulled everyone from hedge fund managers to small-time investors. Now newfangled investments linked to volatility in the stock market — until a few years ago, obscure niche products...

Morgan Stanley reports a loss of advisers after exiting the protocol for broker recruiting

January 18, 2018

Morgan Stanley lost 47 brokers in the fourth quarter, the same quarter it clamped down on advisers leaving by backing out of the protocol for broker recruiting. The number of brokers leaving in the fourth quarter was the most in any single quarter...

Morgan Stanley's wealth management fees climb to all-time high

January 18, 2018

Record stock markets have been good to Morgan Stanley. The firm's wealth management fees climbed to a record in the fourth quarter as the S&P 500 Index reached an all-time high. The company beat its target cost ratio for the year and posted...

Citigroup uses tax break windfall to rain profits on investors

January 16, 2018

As big U.S. banks weigh how to divvy up their windfall from a massive U.S. tax cut, Citigroup Inc.'s approach appears to be set: Shower profits on investors. Lower tax rates mean the bank can stick to its multiyear plan to pay out at least $60...

Tax bill SALT reduction could raise demand for munis

January 12, 2018

Residents in New York, New Jersey and Connecticut who waited in queues to pay their property taxes early and take advantage of an expiring tax deduction may be lining up in 2018 to buy municipal bonds issued in their home states. Strategists...

Wall Street aims to protect 401(k)s from hacking nightmare

January 4, 2018

U.S. financial firms plan to expand a secretive project protecting bank accounts against crippling cyberattacks so that it will also guard trillions of dollars in investment funds. The industry-led project, called Sheltered Harbor, already is...

Brace for steepest rate hikes since 2006 in new year

December 11, 2017

Wall Street economists are telling investors to brace for the biggest tightening of monetary policy in more than a decade. With the world economy heading into its strongest period since 2011, Citigroup Inc. and JPMorgan Chase & Co. predict average...

Big U.S. banks could see profits jump 20% with deregulation

August 24, 2017

The deregulation winds blowing through Washington could add $27 billion of gross profit at the six largest U.S. banks, lifting their annual pretax income by about 20 percent. JPMorgan Chase & Co. and Morgan Stanley would benefit most from changes...

Is LPL's deal sweet enough for NPH's 3,200 reps and advisers?

August 16, 2017

LPL Financial's deal to acquire the National Planning Holdings Inc. broker-dealer network was embraced by Wall Street on Wednesday, but the 3,200 NPH registered reps and advisers who manage $120 billion in client assets must evaluate the deal...

ETFs making emerging markets vulnerable to sudden outflows: Citi

August 16, 2017

Add Citigroup Inc. to the list of analysts and investors concerned by the bumper inflows into emerging-market ETFs this year. After attracting almost $47 billion of new cash so far this year, exchange-traded funds have made developing nations...

European junk bonds posted highest returns after financial crisis

August 15, 2017

If you'd bought European high-yield bonds the day the global financial crisis erupted, closed your eyes and held onto them through the unprecedented events of the following decade, you would now be sitting on a 100 percent return. On the other...

Wells Fargo looks unusually cheap, but investors fret mojo's gone

August 1, 2017

After yet another scandal, it's time for would-be Wells Fargo & Co. shareholders to decide: Is this a rare buying opportunity or has the bank lost its mojo? Not since 2011 has Wells Fargo been so cheap relative to its U.S. competitors. For years,...

Betterment targets more affluent investors

May 24, 2017

Citigroup Inc. doesn't think its richer customers will drop their high-priced money managers in favor of automated investing, but Betterment is betting it can prove the big bank wrong. The robo-adviser — the largest of the independent digital...

Trump miscues, more cash becoming available will drive summer muni bond rally

May 19, 2017

Municipal bonds got a lift this week as turmoil surrounding President Donald J. Trump's administration sparked a flight to safe assets. An even bigger boost will come this summer as investors will receive a flood of cash that will outstrip the...

Markets looking for policy details in Trump's speech

February 27, 2017

Donald Trump's address to Congress on Tuesday is taking on the importance of a State of the Union speech when it comes to U.S. financial markets. For investors relying on more than a year of campaign promises of a pro-growth agenda to push U.S....

SEC hits Citigroup advisory unit with $18.3 million penalty for overbilling clients

January 26, 2017

Citigroup Global Markets Inc. agreed to pay $18.3 million to settle Securities and Exchange Commission charges that it overbilled investment advisory clients, the agency announced on Thursday. From 2000 until 2015, the Citigroup unit overcharged...

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