Further underscoring their growing role as profit source, the hedge fund segment generated $25 billion, or 12.5%, of total revenues in fees last year for major investment banks.
According to new data from
According to Reuters, the largest prime brokers are
There are roughly 7,500 hedge funds operating around the world today. They now manage about $1 trillion in assets, a far cry from the $40 billion of 1990. The largest hedge fund manager is the Swiss financial services group
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The CFP Board promised to enhance its review processes after an investigation found major shortcomings. A new analysis of CFP data found that the problem has only gotten worse.
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Terri Kallsen will precede him next year as chair of the Board of Directors; Seay will take over that role in 2027.
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The popular industry recruiting and retention barometer provided another window into the challenges facing LPL Financial with its latest major acquisition.
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The Wall Street powerhouse has built its wealth division in large part through big deals but is not "looking to make acquisitions just for the sake of it, " said CEO Ted Pick.
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The Treasury Department and the IRS will need to roll out guidance to explain the bill's newer provisions and how they differ from earlier tax legislation.
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But the Bank of America subsidiaries nonetheless reported rises in AUM and net revenue in the second quarter while adding thousands of new client relationships.
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