Bank channel

BNY Mellon Investment Management has hired Andrew Provencher as Head of U.S. Retail Sales, a newly created role in which he will be responsible for leading all sales and relationship management through the Dreyfus platform focusing on national wirehouse firms, Registered Investment Advisors, independent broker-dealers and private banks.

Associated Bank plans to use analytics so it can make more appropriate sales pitches and help business clients better manage their affairs.

PNC Financial Services Group Inc., the second-largest U.S. regional bank, faces the same decision on its 21 percent stake in BlackRock Inc. that confronts many individual investors: sell or hold?

Regulators are focusing attention on ensuring community banks have proper security systems in place in the wake of a string of cyberattacks on megabanks.

As more banks look to equip their branch employees to handle all of their customers' needs, experts offer tips on how to ease the transition.

The 12 largest bank broker dealers boosted their revenue by 8% to more than $1.5 billion in 2012, marking the fourth consecutive annual increase.

Large banks grab headlines with big pledges to small business, but community banks are the ones making hefty commitments compared to their size.

Shannon Kennedy, a 26-year veteran of Northern Trust, was appointed to a new post as regional president for Orange and San Diego counties in Southern California.

In a low-growth market, aggressive banks are seeking to grow by poaching top performers from rivals. There are effective ways to keep top talent on board.

The appointment marks the unit’s latest move to build out its services beyond traditional wealth management.

The United States is set to undergo a "geographic sea change" where economic power is shifting from longtime coastal stronghold states still reeling from the housing bust and moving towards interior states with lower tax burdens, according to banking analyst Meredith Whitney.

SunTrust is expected to announce Tuesday that it plans to put financial counselors in its branches as part of a pilot program with Operation HOPE, a nonprofit that works to provide financial literacy training to low-income families.

Taking the 80/20 rule-of-thumb to its logical conclusion, Robert Vingi and Howard Edwards at Wells Fargo are removing less lucrative clients from their business.

"This is all about stealing share now. It's not about telling people to bring money from your mattress," says Wayne Cutler, who runs the wealth management practice at Novantas.

Last year M&T generated $546 million in wealth management income, nearly three times the $187 million it produced prior to the acquisition of Wilmington Trust in 2011.

"A lot of potential clients are already banking [with Umpqua]. For us, the first priority is to make sure we let them know that we're there," Seattle market leader Elise Fortin said in a telephone interview.

Amid intense competition for high-net-worth clients, U.S. Bank's Private Client Reserve unit is ramping up its marketing efforts to differentiate itself from its rivals.

Two separate themes weave their way though our pages this month. The first is how to stay the course and improve your practice through stronger business relationships. The second is when to throw in the towel.

The broker-dealers that make up the backbone of the bank channel, inexplicably dubbed third-party marketers, expect sunny skies and room to grow. The one common challenge that most will fess up to: They can't find enough good advisors.

The best bank managers and best wirehouse managers have a lot in common. While each has the distinct flavor of their respective channels, they are very similar in spirit.