The cuts follow a reorganization of the firms human resources group, according to the Grove. They come four months after Louis de Ocejo took over as head of global human resources. Ocejo replaced Sue Comeau, who retired in October.
The cuts surprised analysts and employees because the firm has very rarely cut its staff, however State Street executives did not rule out further cuts in other departments based on the increasing need to cut costs, according to a report in The Boston Globe.
Last year, almost $1 trillion flooded into money market funds. Here are the 20 that have grown the biggest.
Amid a busy April for big hires, compliance tech provider COMPLY and wealthtech platform TIFIN have brought on industry vets Michael Stanton and Jeannette Kuda, respectively, aiming for strategic growth.
Turns out clients are as mistaken about tax preparers as they are about taxes.
After a mixed quarter for the firm's wealth unit, CEO Ron Kruszewski predicted that the Fed may cut rates zero or just once or even hike them in 2024.
The U.S. Chamber of Commerce and other business groups contend the Federal Trade Commission has exceeded its authority in nullifying contracts that prohibit employees from switching jobs to competitors.
