Industry

BNY Mellon Wealth Management hired Tracy McCarthy to lead its Denver office as regional president. She will reports to David Emmes, president of U.S. Markets West.

The move is part of BNY’s previously announced plans to expand its nationwide sales force by 50% over the next 18 months.

New York, California and Texas will be ground zero for Fiera Capital, the $71 billion Canadian investment manager that is hoping to crack the top tier of the U.S. private wealth market.

Investcorp's U.S.-based Hedge Fund business announced that Elena Ranguelova has come on board as Head of Credit and Equity Strategies.

Bank of America Corp.’s Merrill Lynch unit must face a lawsuit filed by two trusts that hold and administer mortgages on behalf of investors who own more than $1 billion worth of securities collateralized by the loans.

“To have a national brand, you have to have a client experience that can be duplicated in every location, like Starbucks," says Rudy Adolf, CEO of Focus Financial Partners. "No advisory firm has the ability to deliver this kind of promise," he says.

Umpqua Holdings' agreement to buy Sterling Financial is the latest in a series of deals this year to pair similarly sized banks, creating a new crop of midsize financial institutions.

For almost nine years, the firm has been lending to companies with ratings in the B to BB+ range, below the investment-grade threshold, the employee claims.

Loomis, Sayles & Company announced that Peter Marber has joined the company as head of emerging markets investments.

Morgan Stanley will get another $57 billion of deposits from Citigroup as part of its Smith Barney purchase and plans to increase securities lending, commercial real estate, corporate and warehouse lending.