Dakin Campbell

The decision also affects David Carroll, who leads wealth and investment management, according to the firm.

The compensation loss is the biggest for a major U.S. bank chief since the 2008 financial crisis.

Goldman Sachs and rival firm JPMorgan are making strides in the ETF market and taking on giants such as BlackRock, State Street and Vanguard.

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

As CEOs at the major firms hang on to their positions, other executives such as Morgan Stanley's Greg Fleming are finding it harder to rise up the ranks.

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.

While the company has about 11% of the operating deposits in the country, it only manages 1% to 2% of the wealth, CEO John Stumpf said.

The deal would allow Credit Suisse's U.S. advisors and clients to move to Wells Fargo Advisors by early 2016, according to a joint statement Tuesday from the firms.

The firm left John Stumpf's pay unchanged at $19.3 million after the firm generated a bigger profit than any other U.S. bank for a second straight year.

Morgan Stanley Chairman and CEO James Gorman's compensation package for last year includes a $4.44 million stock bonus, down 13% from his 2013 award.

City National's sale to RBC bestows new wealth on two men who have served as Hollywood's private bankers since Steven Spielberg filmed "Jaws."

Citigroup and Goldman Sachs Group were among 10 banks fined for failing to shield analysts from pressure to promote stocks a decade after a U.S. crackdown sought to end Wall Street conflicts of interest.

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.

Banks including JPMorgan Chase, Citigroup and Morgan Stanley have been notified regulators are preparing enforcement actions on currency rigging, people familiar with the investigation said.

Citigroup agreed to pay $7 billion in fines and consumer relief to resolve government claims that it misled investors about the quality of mortgage-backed bonds sold before the 2008 financial crisis.

Citigroup Inc., the third-largest U.S. lender, said Deepak Sharma will retire as chairman of its private bank after 38 years with the firm.

First-half revenue at the six biggest U.S. banks climbed for the first time in four years, fueling profits and vindicating Bank of America Corp. and Morgan Stanley leaders who presided over stock slumps.

Wells Fargo & Co., the biggest U.S. bank by market value, bought a stake in Rock Creek Group LP to provide more hedge-fund offerings to clients amid a push to double the asset-management unit within seven years.

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon would be the best person to lead the U.S. Treasury Department in a financial crisis, billionaire investor Warren Buffett said.

Wells Fargo & Co., the most valuable U.S. bank and largest mortgage lender, dropped 4% in New York trading after reporting a record third-quarter profit that was marred by narrower profit margins.