Results for "jpmorgan chase"

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Younger millionaires want advice on cryptocurrency

June 19, 2018

Wealth managers should overcome their reluctance to discuss cryptocurrency investments with their younger rich clients, to prevent them from turning to other specialists for advice, according to consultant Capgemini. More than 70% of millionaires...

Winning over the ultra-rich means cutting them in on mega deals

June 11, 2018

America's last Gilded Age had its "List of 400": the people said to be worthy enough, or at least rich enough, to climb the pinnacles of high society. Today, in an age of affluence not even the Astors and Vanderbilts might have imagined, there...

Catherine M. Keating appointed CEO by BNY Mellon Wealth Management

June 8, 2018

BNY Mellon Wealth Management named Catherine M. Keating as its new chief executive officer and member of its executive committee. The firm has $246 billion in total client assets. Ms. Keating joins BNY Mellon from Commonfund Inc., a nonprofit...

Teamwork makes the dream work at Pimco

June 5, 2018

The sun hasn't yet lit up the California sky when Daniel Ivascyn and Emmanuel "Manny" Roman join each other at side-by-side desks on the 20th-floor trading room of Pacific Investment Management Co. From their aerie overlooking a luxury shopping...

Mellody Hobson of Ariel to become vice chair of Starbucks

June 5, 2018

Mellody Hobson, president of Chicago-based Ariel Investments, will add a new title to her already vast resume: vice chair of Starbucks. The coffee company's executive chairman, Howard Schultz, announced Monday that he will leave Starbucks June...

Biggest U.S. banks cut municipal-bond holdings

May 31, 2018

More than a half dozen of the biggest U.S. banks reduced their holdings of state and local government bonds by billions of dollars after the federal government slashed corporate tax rates, making the securities less valuable to one of the market's...

Morgan Stanley wants to double asset manager's size to $1 trillion

May 23, 2018

James Gorman would like his asset management division to join the $1 trillion club. Morgan Stanley's CEO said he wants the unit to hit that level of client assets, in response to a question about his view on the next five to seven years at a...

JPMorgan Chase to make alt investments available to the many

May 17, 2018

JPMorgan Chase & Co. plans to offer sophisticated investments to a much broader clientele. The bank is slashing requirements to participate in certain alternative investments that its asset management arm once offered mainly to institutions...

Why Schwab's CEO bets you won't be trading stocks on Amazon

April 25, 2018

Walt Bettinger, the CEO at Charles Schwab Corp., has some friendly advice for Amazon.com Inc.'s Jeff Bezos: Think twice before getting into the investment business. "If you're a FAANG-type company and you decide you want to come into our space...

JPMorgan Chase sued for charging 'sky-high' fees for crypto purchases

April 12, 2018

JPMorgan Chase & Co. has been sued for charging "sky-high" interest rates and fees to customers who used their credit cards to buy cryptocurrencies such as bitcoin. Brady Tucker, a Chase credit card customer in Idaho, claims the bank in January...

Jamie Dimon of JPMorgan Chase sees opportunity to increase share of wealth management market

April 5, 2018

JPMorgan Chase & Co. CEO Jamie Dimon believes the bank can more than double its market share in the high net worth and affluent wealth management markets in the next 10 years. In an annual letter to shareholders, the head of the largest U.S....

Wells Fargo wealth-management used similar incentives to those behind fake-account scandal

April 5, 2018

Credit card and savings customers may not be the only ones who were misled by Wells Fargo & Co. Some clients of the bank's wealth-management division were steered into investments that maximized revenue for the bank and compensation for its...

$8B jury 'message' to JPMorgan for mismanaging estate will likely be lowered

April 5, 2018

Irelsie Alvarez said she and fellow jurors wanted to send JPMorgan Chase & Co. a message with their startling $8 billion verdict in a Dallas probate case -- an award that's destined to be reduced to no more than $90 million. She concluded at...

JPMorgan accused of wrongful death by estate of star broker

April 3, 2018

The estate of a deceased broker filed a wrongful death lawsuit against JPMorgan Chase & Co., saying he took his life after becoming despondent because he was forced to retire. Michael A. Lorig suffered from depression and mental illness, and...

JPMorgan $8 billion loss to widow faces massive reduction

March 30, 2018

JPMorgan Chase & Co. will probably face a judgment of no more than $90 million in a lawsuit claiming mismanagement of an estate that initially brought a jury verdict of $8 billion in punitive damages. In September, a Dallas jury awarded excessive...

What to make of Morgan Stanley's new robo

March 22, 2018

Morgan Stanley is testing how an old-school gang of brokers and advisers and a newfangled, algorithm-driven robo-adviser can work together. When Morgan Stanley said last May that it was cutting back on recruiting and would focus on building...

UBS to pay New York state $230 million to resolve probe

March 21, 2018

UBS AG agreed to pay $230 million to resolve a New York state probe into its marketing of residential mortgage-backed securities before the financial crisis, boosting the state's recoveries in the investigation to almost $4 billion. The settlement...

Senate votes to roll back parts of Dodd-Frank

March 15, 2018

The U.S. Senate passed legislation that would ease constraints on regional and community banks while mostly snubbing Wall Street, giving the finance industry its best chance in years of rolling back rules adopted in the wake of the 2008 crisis....

Vanguard crushed active investing. Now it could save it

March 9, 2018

Indexing pioneer Vanguard Group may be stock pickers' last hope. Investors are increasingly turning their stock picking over to computers. So-called smart beta exchange-traded funds track indexes that replicate traditional styles of active management,...

Lloyd Blankfein to step down as Goldman CEO by end of the year

March 9, 2018

Goldman Sachs Group Inc. Chief Executive Lloyd Blankfein plans to step down as soon as the end of this year, the Wall Street Journal reported. The investment bank intends to replace Mr. Blankfein, 63, with one of its two co-presidents, David...

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