Bank channel

New research from Javelin Strategy & Research highlights banking-related trends among Generation Y.

Brett Meili joined U.S. Bancorp Fund Services as legal counsel to provide support for the organizations’ growing alternative investment products and services.

Deferred prosecution agreements involving HSBC's money laundering scandal and similar cases have practical advantages. But they also raise concerns that big banks are getting off easier than small ones.

Regulators and banks should develop a system allowing lenders to go bust without damaging the world economy to help restore public trust in the industry, JPMorgan Chase CEO Jamie Dimon said.

Regions Financial reported fourth-quarter earnings that beat analysts' estimates as its net interest margin, a gauge of lending profitability, widened.

The crisis gave financial innovation a bad rap. Don't let that stifle fresh thinking, Eyelock's Jeff Carter says.

In the fourth quarter of 2012, wealth and investment services earned $7.8 million in non-interest income for the bank, a 36% jump from a year earlier and 9% increase from the previous quarter.

U.S. Bancorp’s wealth management and securities services business contributed $41 million to the bank’s bottom line in the fourth quarter of 2012, down $2 million, or 4.7%, from the previous quarter, but unchanged from the same quarter a year earlier.

Bank of America Corp. led decliners in the Dow Jones Industrial Average after reporting profit dropped 63 percent, hurt by shrinking revenue and more costs from cleaning up bad mortgages.

When people hear “financial planning” or “retirement income,” they tune out. Try using “lifestyle design” instead to get their attention.

Cost control will sharpen further in 2013, given continued pressure from low interest rates and loan competition, U.S. Bancorp says. Other banks will face similar challenges.

Goldman Sachs Group Inc., the fifth- biggest U.S. bank by assets, said quarterly profit almost tripled as gains in the value of the firm’s own investments contributed to the first year of revenue growth since 2009.

David Duffy joined the group as sales director and will be responsible for the firm’s residential mortgage business in the Mid-Atlantic region, focusing primarily on Philadelphia and Washington, D.C.

One new aspect about the platform is that it incorporates a unified managed account structure.

Bank of America agreed to pay $62.5 million to resolve investor claims that the bank’s directors mishandled the acquisition of Merrill Lynch & Co., company officials said.

Some $152 billion left the equity markets last year. About $90 billion went into bonds and bond funds. That means $60 billion appears to have left financial markets altogether—that’s a lot of potential for bank advisors .

CEO Michael Corbat's 13 reshuffled direct reports are all men — an extreme example of the gender gap that exposes banks to reputational and operational risks and charges of being out of touch.

Net income advanced to a record $5.09 billion, or 91 cents a share, from $4.11 billion, or 73 cents, a year earlier.

The unit earned $351 million in net income in the fourth quarter of 2012, up 13% from the year before.

Christopher Hohlstein is based in the firm’s growing office in Atlanta and reports to Craig Sutherland, president of the Southeast U.S. region.