Bank channel

State Street Corp., the third- largest custody bank, said second-quarter profit climbed 16 percent as rising global equity markets lifted the value of the assets it oversees.

Two of the five new hires joined the Boston office. The others joined offices in Princeton, N.J., Melville, N.Y., and Walnut Creek, Calif.

A staged cyber assault meant to test banks' response to cyber threats took place Thursday from the middle of the morning to early in the afternoon.

Trust services generated $124.7 million in income during the second quarter of 2013, up 2% from the same period last year.

Northern Trust Corp., the third- biggest independent U.S. custody bank, said second-quarter profit rose a smaller-than-expected 6.2 percent as stock-market gains boosted the value of assets the company oversees.

PNC Financial Services Group Inc., the second-largest U.S. regional bank, said second-quarter profit more than doubled, beating analysts’ estimates, as fee revenue surged and the firm set aside less for bad loans.

Bank of New York Mellon Corp., the world’s largest custody bank, reported that second-quarter profit rose 79% as the stock-market rally boosted assets and fees for overseeing them.

Hedge funds have beaten the FDIC in a series of legal disputes over the assets of bankrupt holding companies, exposing a serious flaw in the regulator's system for recovering value from failed institutions.

Private banking, trust and brokerage units have each enjoyed periods when they were the big guys on campus. But now no one group is more important than the other.

Readers weigh in on HSBC’s decision to put its advisors on salary.

Regions Insurance opened a new office in Columbia, S.C., its first in South Carolina. The new office is the third significant addition to Regions Insurance in the last six months.

In the second quarter of 2013, wealth management and investment services generated $8.9 million in income, up $1.7 million, or 23%, from a year ago.

Two wealth management giants, JPMorgan and Wells Fargo, kicked off the second quarter with record earnings despite market and interest rate volatility.

Four key senators introduced a bill Thursday that would effectively reinstate a Depression-era law that separated the investment and commercial sides of U.S. banks.

Sen. Elizabeth Warren and her colleagues are working to drum up support for a new bipartisan bill that would bring back a Depression-era law separating commercial and investment banks.

Andrea Kaempf, formerly of Bank of America, will lead the personal wealth team of U.S. Bank’s Private Client Reserve HNW unit in Washington State.

The wealth manager hired a sales director and a senior mortgage banker in Washington and added seven wealth professionals to the Philadelphia team.

The tools were developed to help the “woefully low” number of people on track for a secure retirement and compel them to take action.

The banks saw increases in year-over-year comparisons on every gauge measured by an industry survey—average bank production increased 9% for the first quarter.

The bank trust channel is an important one despite a modest growth outlook.