Hugh Son

The new independent practice shares a co-founder with Palantir, a CIA-backed data-gathering firm.

The wirehouse is making a big push to grab billions in clients' deposits held at rival firms.

Top executives including Morgan Stanley's James Gorman and Wells Fargo's CFO John Shrewsberry said they must develop robos to complement their sales forces.

The CEOs of Goldman Sachs and Morgan Stanley are getting smaller pay days after shares for both of their firms undperperformed.

The wirehouse is asking Credit Suisse advisors to sign a 13-year contract before joining the wirehouse – much longer than the industry standard, according to people familiar with the matter.

A top Wells Fargo executive said there's a "feeding frenzy" for some of the Swiss lender's top producers, at the same time the wirehouse is courting more than 200 of the elite recruits.

The wirehouse is developing an automated investment prototype for Merrill Edge, its discount brokerage for accounts under $250,000.

Allowing Brian Moynihan to serve as both CEO and chairman of Bank of America would "concentrate too much responsibility in a single person," proxy advisor Glass Lewis says.

The firm sent a memo to advisors telling them to withdraw about $80 million from a fund because of illiquid investments and elevated volatility, according to two people familiar with the matter.

James Simons, who founded Renaissance Technologies, hired Ashvin Chhabra to run his family office, leading to a shift in executive roles at Bank of America Merrill Lynch.

The SEC and other regulators are seeking information about the bank's use of proprietary products in its wealth management business, the company disclosed in a regulatory filing.

A new generation of Wall Street bankers is about to get a raise, as firms open wallets to head off defections to investment funds and Silicon Valley.

Bank of America Corp. will pay $16.65 billion to end federal and state probes into mortgage bond sales, the harshest penalty yet related to loans that fueled the 2008 financial crisis, the Justice Department said.

JPMorgan Chase CEO Jamie Dimon plans to be involved running the bank at a less intense pace as he fights throat cancer and said that the company is prepared for “all scenarios.”

The world’s biggest bond dealers, including JPMorgan Chase & Co. and Morgan Stanley, failed to properly report trades to the industry’s price-tracking system more than 11,000 times. JPMorgan’s penalty: About three minutes of its annual profit.

Bank of America Corp. is dismantling an electronic market-making unit created last year to serve the lender’s Merrill Lynch wealth-management division, said two people with knowledge of the decision.

With Credit Suisse Group AG poised to become the first bank in more than a decade to admit to a crime in the U.S., regulators have been reaching out to some of the firm’s biggest business partners to avert a panic, according to a person briefed on those communications.

U.S. prosecutors are seeking more than $13 billion from Bank of America to resolve federal and state investigations of the lender’s sale of bonds backed by home loans in the run-up to the 2008 financial crisis, according to people familiar with the matter.

Bank of America's Lisa Carnoy, one of Wall Street's highest-ranking women, is moving from head of the global capital-markets division to an executive role in the U.S. Trust wealth-management unit.

Bank of America Corp.’s Merrill Lynch unit agreed to pay $160 million to settle a discrimination lawsuit filed by black financial advisors, a lawyer for the plaintiffs said.