Bank channel

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.

Global wealth management firms engaged in 65 M&A deals from the beginning of 2011 to the end of the third quarter of 2012. During that time, $635 billion in assets under management changed hands.

Former Navy Seal imparts management lessons for business and everyday life.

BNY Mellon Wealth Management has added three senior portfolio managers and two senior directors for business development to its Southern California team.

Since it was formed last year, Citi Private Bank's North America Asian Clients Group has increased its client base by 10percent and its assets under management by over 40 percent.

The use of specific words has lessons for all FAs, according to research unveiled at the Raymond James Financial Institutions Division Management Symposium.

Matt Williams, incoming chairman of the American Bankers Association, says banks can rebound by drawing on lessons from past crises, updating business models and hiring a new generation of bankers.

Mary Martuscelli, a 33-year J.P. Morgan Chase veteran, will be responsible for growing and managing all aspects of the wealth management business in Washington, Oregon, California, Arizona, Nevada, Utah and Colorado.

Citi Private Bank has hired foreign exchange trading expert Oscar G. Salem as director and foreign exchange investment specialist. In this newly created position, Salem will oversee the bank's currency business in the Southwest region.

Bank of America said Friday it would pay $2.43 billion to settle a shareholder lawsuit over its purchase of Merrill Lynch, in an expensive effort to resolve one of many problems it faces from the financial crisis.

The Pittsburgh company is among several banks aiming to boost visibility on college campuses in hopes of attracting young consumers who many not have a dime to their names now but could be high earners down the road.