Wells Fargo & Co. is suspending new job cuts, joining lenders on both sides of the Atlantic that are giving workers a reprieve as they grapple with the impact of the coronavirus.
“We have paused initiating new displacements,” spokeswoman Beth Richek said Thursday in a statement. “We will continue to evaluate during this fluid situation.”
The bank joins Citigroup Inc. and Morgan Stanley in pledging to preserve jobs as the pandemic roils markets and businesses, and raises the prospect of deep losses across the industry. In Europe, HSBC Holdings, Deutsche Bank and Lloyds Banking Group are among the companies doing the same.
Wells Fargo has the largest workforce of any U.S. bank, with approximately 260,000 employees at year-end.
The top-ranked RIA by total AUM continues to scale its wealth management arm, bringing its Pennsylvania presence to five offices.
The Reddit trading community's formal comment letter against the proposal is drawing widespread attention across finance and tech circles.
Chicago Partners Wealth Advisors is helping shape the platform's product roadmap after switching from a legacy system.
RIA aggregator adds $4.8 billion in client assets across seven states as demand grows for alternatives to traditional succession models.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
