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Citi’s wealth CIO is stepping down
David Bailin is exiting the banking giant’s ranks after 15 years of service.
Citi taps former UBS exec to head family office unit
The firm is tapping the veteran business-builder and reshuffling key members of its wealth unit as it looks to bolster its UHNW division.
Citi offers to pay partial bonuses to encourage departures
The bank's offers to a limited number of staff are part of the Wall Street giant's continued restructuring efforts.
Former Merrill star manager Oden jumps to HSBC
But big banks can fall flat when it comes to building a home for financial advisors.
Which Wall Street firm could be about to break up high-profit unit?
Major firm reportedly considering restructuring one of its key operations.
Edward Jones to offer banking services
The wealth management firm will offer its clients checking and savings accounts and potentially other banking products.
Can Goldman Sachs and Citigroup catch up on hiring advisors?
Both banks have recently signaled their interest in bolstering their wealth management operations, but they can't snap their fingers and conjure financial advisors from thin air.
Wall Street banks are using AI to rewire finance
Banks' interest is growing in the evolving technology of artificial intelligence and its likely impact on their business.
Morgan Stanley planning to eliminate 3,000 employees in fresh round of job cuts
The head count reductions, which are the bank’s second round within six months, will spare wealth management teams, including advisors.
Six biggest banks on Wall Street failing key ESG test, study says
JPMorgan, Bank of America, Citigroup are listed as falling short in an analysis by Ceres and the Transition Pathways Initiative.
First Republic gets $30 billion in fresh deposits in bank rescue
The plan, which the banks devised with US regulators, is meant to stave off a widening panic in the wake of regulators' seizure of Silicon Valley Bank and Signature Bank over the past week.
Major banks in talks to deposit up to $30 billion with First Republic
JPMorgan, Citigroup and Bank of America are among the big banks that are part of the discussion. Details of the rescue may be announced as soon as Thursday.
Big US banks score $1 trillion in profit in a decade
The record haul for the six big banks occurred as volatility juiced trading hauls, investment bankers rode a dealmaking boom and Donald Trump boosted bottom lines by slashing taxes.
Wall Street firms hit with $2 billion in fines in WhatsApp probe
The penalties levied against firms including Citigroup, Bank of America and Goldman Sachs constitute the largest-ever penalties against US banks for record-keeping lapses.
Wells Fargo plans third-party racial equity audit
The announcement that the bank hired law firm Covington & Burling to do an assessment comes as CEO Scharf prepares to appear at a pair of congressional hearings.
Bank of America forms wealth management banking and lending group
The new organization, which comprises about 3,500 employees, seeks to expand the firm's offerings for affluent clients increasingly sought by rivals.
Citigroup ordered to pay former ‘spoofing’ broker $725,383
A Finra arbitration panel said the firm owes Shlomo Salant compensation for 2014, the year he reached a settlement with the Commodity Futures Trading Commission for allegedly faking market interest in futures.
Citigroup plans to hire 500 people for new wealth unit
The division caters to junior employees at private equity offices, consultancies and accounting firms, betting those clients will someday join the ranks of the ultra-wealthy.
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.
