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JPMorgan strategist stands out with call for stocks rebound
JPMorgan's Marko Kolanovic expects a rebound in stocks on attractive valuations and as the peak in investor bearishness has likely passed.
The message is compliance
The substantial fines hitting big banks for failing to meet messaging-retention requirements shows the need for direction from the top to ensure the use of monitoring systems.
Wall Street texting habit sticks banks with rare $1 billion bill
The sweeping civil probes rank among the largest-ever penalties levied against US banks for record-keeping lapses.
401(k) contributions lagging, especially among millennials: BofA survey
The majority of eligible employees participate in 401(k) plans, but there's much room for improvement when it comes to how much they contribute.
Reslicing the profit pie at Wells Fargo
If the pie keeps growing, wirehouse brokers probably won’t mind getting a relatively smaller slice.
JPMorgan will cover employees’ abortion-travel costs starting next month
Benefit will go into effect July 1 at JPMorgan, Goldman Sachs and Bank of America.
Stock funds see exodus as recession fears grip investors
Equity funds see $16.8 billion outflows while bonds saw redemptions of $23.5 billion.
Bank of America deepens ties to iCapital alts platform with strategic investment
The bank joins a long list of financial backers funding the $130 billion tech-savvy platform for investing in alternatives.
Mass outflows hit every asset class as recession fears climb
Global equity funds had $5.2 billion of outflows in the week to May 18, led by redemptions from mutual funds.
Historic rout isn’t over yet, Bank of America strategists say
“Paralysis rather than panic best describes investor positioning,” BofA's Michael Hartnett says.
Bank of America wealth group sees head count drop as revenues climb
Adviser ranks are falling, but the bank reports 7,800 net new client relationships and a growing thirst for alternative investments.
Ex-BofA employees among 6 banned by Fed over Covid loan fraud
The Federal Reserve banned the former bank employees for fraudulently obtaining loans designed to provide economic relief to small businesses during the pandemic.
JPMorgan agrees to racial-equity audit for $30 billion effort
The biggest U.S. bank will hire a third party to perform the audit and publish a report on the results by the end of this year.
Goldman, Citi strategists say it’s now time to buy stocks
'Any further significant weakness at the index level should be seen as a buying opportunity, in our view,' Goldman strategists say.
BofA brings employees back to some U.S. offices as Covid cases decrease
As coronavirus conditions improve across the country, employees across major financial firms are being asked to come back.
BofA revamps wealth management product teams
The moves in product teams increase the responsibilities of Andy Sieg, the president of Merrill Lynch, and Katy Knox, president of BofA's private bank.
It’s raining records at Merrill Lynch
Merrill Lynch, an industry bellwether, reports a host of new highs in 2021, ranging from revenue to assets and net new ultra-high-net-worth clients.
Team managing $1.2 billion at BofA joins Baird
The four-adviser HBGW Group is moving to Baird’s office in Greenville, South Carolina.
Merrill ramps up adviser training after record revenues in Q3
The new adviser development program is up and running with 750 advisers. Some of the new recruits could be already licensed to sell securities, but don't have a background in financial advice, according to the company.
Merrill workers who return to office and confirm vaccination can get $200
The firm will give the $200 awards to client associates, administrative support and operations staff who have been vaccinated against Covid and show up in the office at least eight times between now and mid-November.
