Bank channel

UBS Wealth Management Americas announced in an internal memo it was launching a new Wealth Planning and Investment Strategies group to be led by Tony Roth.

June hires turn positive thanks to aggressive recruiting in all positions by the industry’s largest firms.

The disappointing results, which beat analyst estimates, came a quarter after the New York-based banking company reported its strongest period in nearly three years, following the financial crisis which staggered, but didn't shutter, the company.

Due to poor market conditions, assets under management fell 14.5% from a year earlier and 19.6% from the previous quarter to $603.3 billion.

Although the Senate finally voted Thursday to send regulatory reform to the president's desk, policy circles are already abuzz about what changes to seek in a "corrections" bill to fix problems with the legislation.

Assets under management declined 5% to $1.16 trillion as customers withdrew $29 billion from cash-like funds during the quarter and $126 billion over the past year.

According to an Ernst & Young 2010 survey, which was recently released, 72% of global banking executives reported that regulatory uncertainty was the biggest challenge around risk management faced by their organizations and 80% say costs to manage new regulations are going to rise.

This transaction is part of Citi’s strategy to reduce its assets and businesses within Citi Holdings, its portfolio of non-core operating businesses and assets. Citi said that it plans to continue to divest non-core assets.

Two big names in industry circles — Eric Hovde and Jay Sidhu — just planted seeds they hope will sprout into the East Coast's next billion-dollar banking companies.

Bankers may never be considered Boy Scouts on compensation, but in terms of the executive pay provisions in the financial reform bill, they certainly are prepared.

Griffith and Grubb “upgrade” sales management in Fifth Third’s Midwest footprint while Woods breaks ground in its southern territory.

Fiduciary Trust hires Mary Davis as senior account manager and Lisa Marcus as business development officer.

Passing regulatory reform legislation, a grueling effort that has taken more than a year of debate, is just a warm-up for an even tougher fight over the future of Fannie Mae and Freddie Mac.

Robert S. Matthews worked for Smith Barney and Citigroup for the past 25 years in its global private banking, wealth management and family office services units. He replaced Kevin McCabe, who was president and chief executive officer since Fieldpoint was founded in 2008.

When the largest banks report second-quarter results this month, there will likely be less to brag about on the credit front, and tough questions to answer about the probable impact of financial reform.

The wealth management group at Bank of the West of San Francisco, has benefited from the market rebound, but owes much of its growth to new assets.

The group will be led by Nadine Chakar, who was head of Europe, Middle East and Africa asset servicing.

First Republic Bank began as an independent bank in 1985 and on Thursday it became independent once again.

Bankers have spent months saying they are making every good loan possible, and now regulators are demanding more information to prove it.

Now that Bank of New York Mellon Corp. has closed its acquisition of PNC’s Global Investment Servicing Inc. the New York-based company has its sights set abroad for further growth of its asset servicing business.