Finance

The chief executive outlined a future where offices need not be fully staffed.

The $217 billion alternative asset manager reported its biggest loss as a public company in the first quarter.

The company allocated $5.1 billion for loan losses in the second quarter, the most since 2010.

Wealth management profits fell, but a steep rise in transactional business offset some of the decline.

Fixed-income trading revenue almost tripled, driving a 73% jump in total trading that surged past expectations.

The bank has been in turmoil relative to peers for years. The economic fallout from the coronavirus pandemic only made matters worse.

It’s the second consecutive quarter that trading set a record, as the bank’s Wall Street unit is helping prop up the consumer-lending division.

“Overall there were not many positive data points to hang your hat on,” according to analysts. Advisor headcount, net interest income and assets were down.

The firm set aside a record $9.5 billion for credit losses, about $4 billion more than analysts had expected, as it braces for a wave of coronavirus-related defaults.

The latest cash influx values the fee-free trading app at $8.6 billion.

Startup Breakaway Bookkeeping & Advising is building a network of finance professionals to act as virtual CFOs for small-business clients.

The manager joins firms including JPMorgan and Arena Investors in seeking opportunities in the sector, particularly in the wake of the coronavirus pandemic.

Almost 90% of smaller fund managers would no longer have to report their investments and their firms would save $136 million a year, the agency estimates.

Investment advice firms netted hundreds of millions of dollars. Here’s where they’re based, what lenders they turned to, and more.

Mass exodus from the market has forced managers to dump securities to raise cash, sending prices tumbling the most in at least four decades.

Affluent investors are concerned about transparency, performance and value, according to a new report by Capgemini.

Its rivals have been building out their own insurance arms in recent years and have brought on executives who can help them attract more business.

The firm announced plans in March to acquire $200 million of its stock and has been in the market on average once every three trading days since.

The leaders raked in a combined $949 billion over the past decade.

A “distribution bump” from the commission-free trading trend that took hold late last year may be behind the surge, analysts say.