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The departure comes amid continued turn at the head of the bank's wealth management ranks.

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.

The annual rush to pay Uncle Sam means the Treasury doesn't need to issue as much short-term debt as in other months to fund the U.S. government.

The first three months of 2024 were hard on Wells Fargo — particularly for its wealth management division.

The banking giant nonetheless saw strong growth in net new assets in the first quarter and a 14% jump in returns from asset management fees.

Citigroup reported lower first quarter earnings within its wealth unit compared to a year ago. But earnings overall have improved from the fourth quarter, when it took significant losses as it finishes a major organizational restructuring.

An expungement lawyer contends firms have an incentive to tar the reputation of departing brokers in an attempt to retain assets under management.

The SEC, the Office of the Comptroller of the Currency and other Treasury Department offices arre all looking into the Wall Street giant's anti-money laundering measures.

The top European regulator worries that big executive pay checks are leading to 'alienation between companies and the people.'

To protect their own talent pipeline, financial companies need to make sure that they're not only protecting the entry-level roles that AI threatens to take over, but getting the enthusiastic buy-in of the people most likely to be affected, according to experts from Fiserv, Segpay and Featurespace.

Kinecta Wealth Management, the wealth arm of Kinecta Federal Credit Union, will switch firms by the end of the year.

The firm may pursue its claims through an administrative office at the agency after agreeing with the federal government to dismiss its case.

FP's annual ranking displays the impact of big one-time awards for four executives and a look at which chiefs netted the biggest increases and decreases in 2023.

The Fed has said it wants to see strong signs of falling inflation before it starts cutting interest rates. Wednesday's data was anything but that.

The platform provider offered up rare transparent data about financial advisor payouts and the cost of its technology amid an accelerating race for top talent.

The Internal Revenue Service urged tax professionals to steer clear of so-called "spearphishing" scams from cybercriminals, including identity thieves posing as new clients.

In an effort to "stop the woke corporate agenda," West Virginia's treasurer added Citigroup, TD Bank, Northern Trust and HSBC to a list of firms banned from providing banking services to the state.

Many wealth managers are spending hundreds of thousands of dollars on AI vendors to create better efficiencies. But measuring results with new tech is a challenge.