Bank channel

The trade group's annual gathering showcased an industry less preoccupied with stabilizing itself and adapting to new regulations — and more interested in looking toward the future.

The bank’s wealth management division had been going through its own changes already, and most observers believe it is on a good track.

Sheila Bair, former chairman of the FDIC, said Vikram Pandit's departure as CEO of Citigroup was a "very positive move and the board discharged its responsibilities and I think they should be commended."

U.S. Bank hired Joe Weidenbach as Chicago market leader for The Private Client Reserve, the bank’s high-net-worth wealth management business.

State Street Corp., the third- largest custody bank, said third-quarter profit fell 0.6% as revenue from foreign-exchange trading declined and low interest rates continued to depress earnings.

Citigroup Inc. Chief Executive Officer Vikram Pandit, who led the bank through its government rescue, stepped down and will be replaced by Michael Corbat. The bank slid in early trading

Citigroup has gotten rid of almost $500 billion in unwanted assets since the financial crisis, but executives say it still has work to do.

Citigroup Inc., the third-biggest U.S. bank, reported a surprise profit of $468 million for the third quarter, helped by a $582 million tax benefit and bond- trading revenue that beat analysts’ estimates.

Webster Bank has recruited Daniel FitzPatrick from BNY Mellon Wealth Management to lead its recently launched private bank.

JPMorgan Chase & Co., the biggest U.S. bank by assets, posted a record third-quarter profit that beat analysts’ estimates as mortgage revenue soared 72

Boston-based Eastern Bank has named Michael Tyler chief investment officer of its wealth management division.

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.

Northern Trust promoted Darius Gill to managing director of Foundation & Institutional Advisors, the bank’s advisory group for middle-market non-profit institutions.

MLV & Co. Financial has struck a deal to buy a stake in an investment advisor in Connecticut and promises more acquisitions to come.

Consumers are increasingly going online to research insurance and annuity products, but the Internet is far from displacing insurance professionals from their roles.

Banks aren't doing enough to make the changes they must in order to secure a profitable future. Here's what they can do to change that.

For the week ended Oct. 3, investors yanked an estimated $10.6 billion from U.S. stock mutual funds, bringing total outflows for the year to more than $103 billion.

Small banks had total investment revenue of $266 million for the first half, up 11% over the same time period last year: report.

Far removed from last year's Occupy-style protests in Chicago, customer experience shortcomings are still a big topic of discussion at 2012's BAI Retail Delivery Conference in Washington. New mobile innovation and social media advancements are two ways for banks to up their game.

Chris Martin and Caryn Cosentini joined the team as senior vice presidents and senior private bankers.