Legg Mason will be the fourth-largest tenant, occupying floors 45 through 50. In addition, it is planning to build a rooftop conference center and garden.
The company is scheduled to move into the new building in the fall of next year.
The firm's wealth management business saw strong new assets inflows in the first quarter, particularly from its business catering to family offices.
Forty-five percent of wealth managers say a disputed presidential election would hurt their business, according to a new Arizent survey.
Citizens Financial said long-time Morgan Stanley leader Paul Casey will spearhead its wealth, private banking units as part of a larger expansion in advisory services.
Some financial advisors and tax professionals with high net worth clients could find big advantages before the expiration of provisions of the Tax Cuts and Jobs Act.
The New York megabank is working to deploy artificial intelligence as it seeks to make its own operations more efficient. Solomon also sees an "unprecedented" opportunity in financing clients' needs as they invest in AI.
Executives say the results show the wisdom of the firm's deliberate decision to focus on high net worth clients.
