Bank channel

Canadian Imperial Bank of Commerce has agreed to buy MFS McLean Budden's private-wealth business.

Advisors contributed to the growth in Fidelity's defined contribution sales commitments during the first half of 2012, bringing in more than 450 new clients with close to 100,000 participants and $2.6 billion in assets under administration.

Monarch Bank in Chesapeake, Va., will launch a new wealth management unit as it looks to expand in Virginia.

Citigroup Inc., the third-largest U.S. bank by assets, started an investment banking joint venture in China that will give it access to the world's second-biggest market for share sales.

The online tool analyzes program data against industry averages and best practices drawn from more than 2,800 financial institutions.

M&I, acquired last year, will be brought into the BMO Harris Bank network.

Ohio-based regional bank names Michael Robinson to lead its wealth management efforts

Annuity income at banks overall increased; but an apples-to-apples comparison shows a clearer picture and tells a bleaker story.

German banking giant Deutsche Bank announced Tuesday that it is eliminating 1,900 jobs - including 1,500 at its investment bank - in a move it says would reduce expenses by 350 million euros, or roughly $430 million in U.S. dollars.

Awareness of bank-sold life insurance improves; carriers designing simple products could benefit, LIMRA reports.

Former FBI and Navy officer to take bank's top information security spot.

After hiring a MetLife mortgage team in northern California, Provident Financial Holdings said its fiscal fourth-quarter profit more-than doubled from a year ago.

JPMorgan Chase shuffled some of its high-ranking executives and streamlined its investment and retail banking operations Friday.

Gailyn Johnson, a 23-year veteran of Wells Fargo, will lead technology, operations, and corporate shared services, working with all wealth management business lines.

Wealth management services brought in $7.2 million in revenue in the second quarter, up 42.1% from the $5.1 million generated in the year-ago quarter. The boost was driven primarily by the bank's acquisition of Davidson Trust in May.

Timothy P. Mertz joined Northern Trust as a senior private banker and relationship manager and will lead a three-person banking team.

The trio brings the total staff to 19, up from 12 a year ago when the firm purchased the asset management business of Chicago-based Talon Asset Management.

Comments by former Citigroup chief executive Sandy Weill reignited the debate over whether to separate commercial banking from investment banking.

Kamal Mustafa, a former global head of M&A at Citibank who now helps to stress-test banks, fears another earnings crunch is coming and that bank valuations will sink lower than they are now.

Huntington’s second venture into the ETF market will be actively managed and use a sector-rotation strategy.