Bank channel

The CEO admitted the bank was “sub-optimized in wealth brokerage and retirement,” but said it was aiming to change that through organic growth.

The North Carolina-based company becomes the third bank to sell a guaranteed income option as part of its institutional plan offering.

Far from being partners, observers said Rep. Barney Frank and whoever the GOP picks to succeed him as Financial Services Committee chairman are likely to be at loggerheads.

After seeing its stock rose 5% over the last two weeks, Wells Fargo is within a few billion dollars of JPMorgan Chase's $156 billion market capitalization.

PrimeVest Financial Services, Inc. has tapped into a substantial demand for third-party marketing services among banks and credit unions that want temporary solutions or want to limit their level of commitment.

Community banks are poised to revisit in 2011 many of the troubled loans they worked hard to restructure this year.

The Federal Reserve Board is now leading an examination of put-back risk at the largest banks, asking institutions to include their exposure to repurchases in reports to the central bank about their capital strength.

There are a variety of working styles and strategies represented by the top 50 bank reps, but some themes stand out that have helped keep them above the cut.

The trustee seeking to recover funds lost in the multibillion Ponzi scheme run by Bernard Madoff Thursday sued JPMorgan Chase & Co. for $6.4 billion. The trustee cited the firm's "decades-long role" as the primary banker in the case.

Between data released by the Fed Reserve and diplomatic cables posted by WikiLeaks, it has been a big week for disclosures of information previously treated as closely guarded ...

As regulators try to collaborate on new securitization rules, a fissure has emerged in bankers' own thinking on the subject.

Currently wirehouse market share is at 56% of total fee-based managed account assets, but Cerulli predicts managed account market share for wirehouses will tumble to 50% by 2014.

Munder Capital Management announced yesterday that it plans to complete its acquisition of Integrity Asset Management (IAM), a Louisville, Ky.-based firm focused on the advisement of institutional assets, by the end of the calendar year.

An Aite Group study shows BofA Merrill Lynch is actively finding fixes to issues with its split-level brokerage model.

According to the Women at the Top Study, women hold 91 out of 523, or 17.4%, of positions at the top 50 banks in the nation, and only eight women hold C-level positions (three are chief operating officers, four are chief financial officers and one is a chief administrative officer).

In a sign that the banking business is bouncing off the bottom of the economic trough, the Federal Deposit Insurance Corp. is ready to start insuring new charters.

The Chicago-based financial services company bought Waterline Partners LLC, a Los Angeles investment advisory firm serving affluent individuals and families.

Now that the deal for Reams has been completed, Kansas City, Mo., based Scout has $19.8 billion in assets under management.

James Hertz, a former vice president and marketer in JPMorgan’s municipal derivatives group, pleaded guilty Tuesday to three criminal counts for engaging in bid-rigging and fraud conspiracies connected with guaranteed investment contracts and other municipal finance agreements, the Justice Department announced.

State Street said it will cut 5% of its work force, as it accelerates its investment in new technologies such as "private processing clouds."