Bank channel

Wells Fargo now gets a third of its fee revenue from its relatively small investment-management and brokerage businesses. Executive David Carroll explains how Wells is getting more business from its wealthy — but not too wealthy — customers and is seeking acquisitions in this market.

The firm has hired a former partner of William Blair & Co as a relationship manager and wealth planning strategist.

Regulators seized two banks in Florida, and one in Kentucky, in a trio of failures Friday.

Robert Buzzelli was formerly Allegheny Valley Bank’s chief banking and wealth management officer.

Beth Mooney, the chairman and CEO of KeyCorp (KEY), and other executives took several questions from analysts about their decision to sell Victory Capital Management this year.

Establishing mentoring programs and better employee communication, drawing on the expertise of nonfinancial companies and holding special events aimed at women business owners are some of the ways banks can develop more women executives and clients.

Contango Capital Advisors is shooting for growth in AUM of up to 10 times within five to seven years, while also increasing profitability.

But large banks have narrowed the gap as they have made a more concerted effort to better explain their fee structures to disgruntled customers.

Martim de Arantes Oliveira will be responsible for driving the growth of Ascent’s new office, which will open this summer.

Despite all the evidence, some bankers are still in denial over how much their industry is disliked and mistrusted these days. That became apparent again Tuesday, during a panel discussion with high-profile industry members and critics.

Bank of America’s wealth management division achieved record post-merger revenue, net income and AUM inflows.

Bank of New York Mellon Corp., the world’s largest custody bank, reported a first-quarter loss after the U.S. Tax Court disallowed certain tax credits.

Doug Heding joined the Private Client Reserve as a private banking officer in Milwaukee; Kenan Aksoz joined as a wealth management consultant in Minneapolis.

Northern Trust, the third- biggest independent U.S. custody bank, said first-quarter profit rose 1.7 percent as stock-market gains boosted the value of assets the company oversees.

In the first quarter of 2013, wealth and investment services generated $7.8 million in revenue, up 7% from a year ago.

Revenue from trading bonds declined 3% to $4.6 billion, excluding adjustments, from the same period last year, Citigroup said. David Trone, an analyst with JMP Securities LLC, had estimated $3.2 billion. Moshe Orenbuch, a Credit Suisse Group AG analyst, predicted $4.2 billion.

Wells Fargo has rolled out a website to help customers, and eventually non-customers, meet their retirement savings goals.

Northern Trust is touting the rapid growth of its’ defined contribution assets.

JPMorgan Chase kicked off the first-quarter earnings season by announcing record profits, but the results did little to inspire investor confidence in bank earnings or diminish ongoing scrutiny of the bank's business and corporate structure.

Wells Fargo’s wealth, brokerage and retirement business units earned $337 million in the first quarter of 2013, up 14% from last year.