Banco Popular de Puerto Rico

Cathy Bessant is among executives who remain in talks with Wells Fargo, while JPMorgan Chase’s Gordon Smith won’t be taking the job, according to people with knowledge of the situation.

On the wealth management side, Morgan Stanley posted $4.41 billion of revenue, which was 2% higher than last year and blew away analysts’ estimates for a 9% decline.

Although the mistake was short-lived and the dollar value small, the mishap raises new questions about how managers monitor indexes.

UBS Global Wealth Management, which oversees more than $2.48 trillion in invested assets, has gone underweight on equities for the first time since the euro-zone crisis.

Asset managers have been on edge as U.S. equity ETFs reported withdrawals of nearly $18 billion in the three weeks ending Friday.

Asset managers are increasingly seeking new sources of returns as more than a quarter of investment grade bonds experience negative yields.

Some see a potential cure in a practice that’s commonplace from Italy to the U.K., but banned in the U.S.

After a year marred by huge legal fines, questions about succession planning and a deepening slump in share prices, CEO Sergio Ermotti unveiled a revitalized board and replaced wealth management co-head Martin Blessing.

The only remaining founder of GSO Capital has left to build a family office and find new opportunities to spend the wealth he’s amassed over 35 years.

The promotions broaden the pool of potential candidates to eventually succeed CEO Sergio Ermotti.