Bank channel

The new Retirement Income Navigator is a three-step process designed to help investors withdraw money from retirement accounts in a more tax-efficient way.

The Senate Banking Committee announced Thursday that it has invited JPMorgan Chase CEO Jamie Dimon to testify about the firm's $2 billion trading loss. A bank spokeswoman said Dimon has agreed to testify.

Northern Trust named Sheldon Woldt to lead its family office and institutional business in the Middle East.

On YouTube, puppet shows are fine for consumers, but to appeal to businesses many banks are taking a more serious tone and putting their own clients in the spotlight.

"Unless the facts are diametrically different from what we've heard, there is no risk from this [$2 billion] loss to depositors or to taxpayers," Rep. Spencer Bachus said. "They remain a very profitable, viable institution."

Bank of the West Wealth Management has hired Scott Cripps to oversee the group’s fiduciary responsibilities to affluent and high-net-worth clients.

For the week ended May 9, investors pulled an estimated $2.41 billion from U.S. stock mutual funds. Since the beginning of the year, the funds have lost more than $34 billion in outflows.

Treasury Secretary Tim Geithner said Tuesday that the $2 billion trading loss at JPMorgan Chase makes a "powerful case" for the financial reforms being implemented under the Dodd-Frank Act.

In the wake of Friday’s announcement of a surprise $2 billion trading loss, JP Morgan Chase Monday said it named Matt Zames its new chief investment officer. Ina Drew will retire.

Both sides of a bank deal need to meet with their regulators well ahead of announcing it in today's complicated world.

The $2 billion loss not only helped proponents of a tougher Volcker Rule and punctured the myth of CEO Jamie Dimon's infallibility. It also strengthened calls from regulators like Tom Hoenig for stronger action against big banks.

The new platform aims to help banks satisfy growing investor appetite for online trading and self-service investing capabilities.

The painful and embarrassing loss at the bank's chief investment office "plays right into the hands of a bunch of pundits out there," the CEO admits.

Four credit unions in the Midwest have introduced investment programs with the help of CUSO Financial Services.

The dozen largest third-party marketing firms supporting banks and credit unions increased their revenue 9% last year, but penetration in the bank channel has stalled.

Investors pulled an estimated $6.60 billion from U.S. stock funds the week ended May 2, six times the $1.17 billion they withdrew from the funds a week earlier.

The Jacksonville, Fla., banking company has launched a new wealth management unit that will target affluent households nationwide.

Banks and credit unions looking to increase revenue from investment programs should hire more advisors, according to PrimeVest’s latest research. But existing advisors won’t welcome such a move.

It's accounting — specifically purchase accounting, Gerard Cassidy of RBC Capital Markets says in a Q&A. The problem will persist until the economy and the real estate market improve further, he warns.

Northern Trust has named Daniel F. Lindley managing director of the Global Family & Private Investment Offices Group for Europe, the Middle East and the Asia-Pacific.