Bank channel

In their first presentations to analysts after the financial reform bill passed, some bank executives treated the landmark legislation like any other facet of business, sandwiching relevant cost estimates between the usual slides on capital ratios and credit losses.

Over the past three months, BNY Mellon Asset Management has lost two executives to outside opportunities. The most recent departure is its Co-Interim Head Jon Little.

Moody's on Tuesday affirmed the long-term and short-term ratings of Bank of America, Citigroup, and Wells Fargo. At the same time, the rating agency changed its outlook on the banks to negative from stable.

JP Morgan Chase taps former wirehouse leader to refocus its branch-based brokers on clients’ untapped wealth.

Despite outflows from its U.S. wealth management unit, UBS AG reported stronger second quarter results Tuesday as outflows from its private bank continued to slow.

The legislation by Rep. Scott Garrett, R-N.J., would establish a regulatory framework for covered bonds, including a regime to handle the failure of a bond issuer.

Although Northeast Bancorp's insurance unit is eking out growth of 1% to 2%, the poor market means its plans for faster growth will have to wait.

Federal and state regulators shut seven banks late Friday, pushing the failure total this year to 103. Though the pace of failures briefly slowed earlier this month, it appears to be picking up momentum again, as Friday's failures followed six last week.

As federal regulators begin implementing regulatory reform, at least one agency plans to step up its disclosure of private meetings with industry insiders.

Wells Fargo's $3.1 billion of earnings in the second quarter handily outpaced analyst expectations, and its unchanged revenue outdid many of its peers' performance.

It had to spend money to make money, but U.S. Bancorp earned enough in the second quarter to put more distance between itself and rivals that are struggling in their core businesses.

Morgan Stanley surpassed analysts’ expectations when it reported its second quarter results on Wednesday, but its chief executive officer warned it expects a rough road ahead.

The Chicago-based company reported a profit of $199.6 million, or 82 cents a share, down 36% from a year earlier. Revenue declined 7% to $973.8 million. The results beat analysts' estimates by eight cents, according to Thomson Reuters.

The company saw assets under management increase 19% from a year earlier to $1.047 trillion, but fell 5.2% from the previous quarter because of stock market declines. Fee revenue rose 1.8% to $2.56 billion.

Comerica Bank has asked Dennis Johnson, a 30-year industry veteran, to assist in developing investment strategies for its asset management division.

The price of the deal, which is expected to close later this year, was not disclosed. When the deal is completed, LaCrosse would have more than $21 billion in assets under administration and more than 250 employees.

Average fee and commission production drops 22% from April, which benefited from fee accounts’ quarterly payment schedule.

It has only been a few months since CEO Vikram Pandit started referring to the company as "America's global bank," and already the numbers are cooperating with the image.

Bank of America raised almost all the same questions as its fellow megabanks did last week and got no closer to resolving them.

If you have clients who still have a healthy dose of outrage at the big banks, now there is a fund just for them.