Wealth management

Updated Saturday, May 18, 2013 as of 11:43 PM ET

Wealth management

Northern Trusts Adds Private Banker to Washington Wealth Office

Northern Trust has lured a former wealth manager at PNC Bank to its wealth management office in Washington, D.C. Timothy P. Mertz joined Northern Trust as a senior private banker and relationship manager and will lead a three-person banking team that “provides clients with personalized deposit and credit solutions as well as commercial credit,” the bank said in a statement.

Mertz was previously a wealth management team leader for PNC Bank in Bethesda, Md., a position he held for three years. Prior to that, he held managerial and banking roles at Bank of New York Mellon and Bank of America for more than 20 years, according to Northern Trust. more »

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BNY Mellon Adds Three to Chicago Wealth Management Office

The trio brings the total staff to 19, up from 12 a year ago when the firm purchased the asset management business of Chicago-based Talon Asset Management. more »

Janney Reels In Big Producer From Morgan Keegan

Thirty-year industry veteran Chris Willett will help expand business in the South. more »

BNY Mellon Bolsters Wealth Management Services in Western Florida

BNY Mellon has hired a former Northern Trust wealth strategist to be senior director in the firm’s Naples, Fla., office, in response to growing business in the region. more »

Financial Planning Critical Regardless of Wealth: Survey

Advisors trying to persuade prospects about the benefits of planning can point to a new study of household financial decision-makers that shows those who have taken the time to put together a plan feel more confident and report more success managing savings and investments. more »

Morgan Stanley Falters In 2Q

A host of challenges conspired to trim earnings in most units but its wealth management unit managed to improve its net income in the second quarter despite a $100 million sequential decline in revenue. more »

International Wealth Management Firms Hold Steady in Tumultuous 2011

The world’s largest international wealth management firms performed better than lower-tier firms on many fronts, including net new money and pre-tax profit growth. more »

Beverly Hills Wealth Management Hires Marketing Director

Beverly Hills Wealth Management, a wealth management firm serving high-net-worth individuals, families and businesses, announced the hiring of a new marketing director and the launch of its new Public Agency Financial Advisory division. more »

Janney Picks VestmarkOne For Wealth Management Platform

Janney Montgomery Scott has selected VestmarkONE to expand its managed account capabilities while providing enhanced operational efficiency. more »

Citi Private Bank Adds Family Office Director

Citi Private Bank hired Lisa Maurer as its new family office group director for the Northeast region. more »

Northern Trust Names President of Delaware Trust Business

Northern Trust has appointed 12-year company veteran Laura G. Mandel president of the Northern Trust Co. of Delaware. more »

Concert Wealth Management Snares $100M Advisor Team

Advisors Scott Christie, John Aitchison and Ryan Jennings will ply their trade from the firm’s new Scottsdale, Ariz. office. more »

Banks Generate $118 Billion in Wealth Management Income

Bank holding companies raked in $118.4 billion in wealth management income in 2011, up 1.35% from $116.9 billion in 2010. The increase comes despite a lackluster fourth quarter, the industry’s weakest since the beginning of 2009. more »

Raymond James Picks Up MSSB Team in Ohio

Raymond James’ latest additions include Bill Carmel, Todd Carmel, Donn Carmel and Mario Quintero Jr., a former Morgan Stanley Smith Barney financial advisor team based in Westlake, Ohio. more »

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