Finance

Net revenue for the Private Client Group reached a new height of $2.42 billion, an 11% jump from the same quarter last year.

CFO Jim Marischen commented on the company's cash sweep policies, following industry concerns about the practice.

Another private equity investor placed a large bet on wealth management as the latest insurer to sell its industry holdings spun off an attractive asset.

Industry groups say RIAs are receiving SEC letters inquiring about compliance with the new T+1 settlement rule for stock and bond trades.

The private equity-backed deal keeps M&A humming along at a "healthy and stable" pace that's unlikely to pick up until rates fall.

The firm continues to see success with encouraging wealth clients to open banking accounts.

The brokerage giant sticks to more conservative approach to retail investing amid increasingly crowded market.

The company celebrated its 25th anniversary as a public company with net earnings of $700 million in its wealth unit. The profits were an improvement from its losses last year.

With a profit margin of 46% in the business segment and new converts using the firm's technology, BNY CFO Dermot McDonough said the company is in good shape.

Citi's CEO Jane Fraser assured investors Friday that the megabank was on the rebound from a corporate restructuring and regulatory actions.