Results for "jpmorgan chase"

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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...

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...

JPMorgan exec warns of possible 40% equity correction

March 8, 2018

JPMorgan Chase & Co. executive Daniel Pinto warned equity markets could fall as much as 40% in the next two to three years. His comments come as investors worry over the effect of central banks raising interest rates and rising inflation. "It...

Wall Street doesn't get much relief in Dodd-Frank reboot

March 5, 2018

The U.S. Senate is expected to approve a sweeping revamp of financial rules this week. Of all the surprises that entails — about a dozen Democrats signing on, Republicans leaving a lot of the much-maligned Dodd-Frank legislation intact —...

Morgan Stanley says biggest hit to U.S. stock market has yet to come

February 20, 2018

The U.S. stock market only had a taste of the potential damage from higher bond yields earlier this year, with the biggest test yet to come, according to Morgan Stanley. "Appetizer, not the main course," is how the bank's strategists led by...

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...

Whistleblower said to collect $30 million in JPMorgan case

February 16, 2018

JPMorgan Chase & Co.'s failure to properly inform some rich clients about conflicts of interest has resulted in a record $30 million whistleblower award by U.S. futures regulators. The Commodity Futures Trading Commission will pay out that amount...

Sell-off grips credit funds

February 16, 2018

Investors pulled $14.1 billion from debt funds, the fifth-largest stretch of redemptions in the week through Feb. 14, according to a Bank of America Merrill Lynch report, citing EPFR data. High-yield bonds lost $10.9 billion alone, the second...

Tiny vol products helped fuel market's slump

February 7, 2018

Two days after a sudden spike in volatility sparked a stock-market crash, market participants are left to ponder the wreckage of the sell-off and the mysterious dynamics that caused it. One theory that's emerging: the curious case of the tail...

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