Practice

The Independent Community Bankers of America sent a letter Thursday to top Senate Banking Committee leaders raising concerns about rumored plans to name the Treasury Secretary as head of a proposed systemic risk council.

Just over a year after the height of the financial crisis, Citigroup Inc. is a fundamentally different company than it was when it needed billions to stave off a collapse.

UBS will have to purchase up to $200 million in auction rate securities from investors who were not covered in UBS’ initial agreement with state and federal regulators.

To attract assets and customers, Bank of America Merrill Lynch has introduced a tool to help employers score how well employees are doing at saving for retirement.

In an effort to attract assets and customers, Bank of America Merrill Lynch has introduced the Financial Wellness Monitor to help employers score how well employees are doing at saving for retirement.

The run on advisors from wirehouses is the new reality for Milwaukee-based Baird.

Separately, the private bank is bringing on two executives.

Advisors are thinking outside the box to grow their businesses despite market volatility last year.

The Securities and Exchange Commission is expanding its New York office staff of 360 people by 33, or nearly 9%, in an effort to better regulate hedge funds and brokerages. The SEC will hire 18 additional people in enforcement and 15 in examinations.

A troubling 72% of workers age 60 or older are putting off retirement because they say they don’t have enough funds, according to a survey of 700 people that Harris Interactive conducted on behalf of CareerBuilder.