Bank channel

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.

The Office of the Comptroller of the Currency closed Security Bank in North Lauderdale, Fla., on Friday, bringing the total number of failures so far in 2012 to 23.

Clients interested in guaranteed lifetime income? Now you have one more option to offer, courtesy of Great-West Life & Annuity Insurance Co.

Associated Banc-Corp has named industry veteran William K. Curtis president and CEO of its retail investment advisory and services arm.

"Big banker pay hasn't been tamed at all. It's as though UBS hasn't learned any lessons at all from the past crises," Brigitta Moser-Harder, a small investor, on the sidelines of a meeting attended by around 3,400 shareholders.

Investors delivered yet another blow to U.S. stock mutual funds, pulling an estimated $1.60 billion from the funds the week ended April 25. The outflow comes on top of the blockbuster $8.68 billion that was withdrawn from the funds a week earlier.

The bigger the bank, the bigger the increase in insurance brokerage income; the smallest banks saw declines.

Personal financial management tools were supposed to differentiate banks and improve customer retention, but many institutions are struggling to make the most of the enhanced online banking technology.

Industry veteran Steven M. Short will oversee the wealth management offices in the bank’s footprint, which includes about 15 markets across six states.

Bank shareholders have started saying "enough" to gigantic CEO pay packages, giving a stinging thumbs-down to certain banks. Paul Hodgson, a senior research associate at GMI Ratings, sums up this year's early proxy-season pay trends.

While we spend most of our efforts the rest of the year covering advisors in the bank channel, we set aside one issue to devote to the bosses: the program managers.