Banco Popular de Puerto Rico

The promotions positions Jim’s son Nathaniel Simons to assume his father’s role as chairman under a succession plan that began about a decade ago.

The FTC wants buyers and sellers to identify their largest shareholders, the extent of their influence and any communications they’ve had, sources say.

“The bank had better tools and systems to detect employees who did not meet unreasonable sales goals than it did to catch employees” engaging in misconduct, the regulator said.

It’s been a long tail for the firm that began with the 2016 revelation that employees had opened millions of fake accounts to meet sales goals.

Fidelity Investments, Invesco and American Century Investments are among those pitching rival visions for ETFs that disclose their holdings like mutual funds.

The firm is building the top ranks of the investment bank even as it removes managing directors from its key wealth management business as part of a broad overhaul instigated by new co-head Iqbal Khan.

The funds raked in $150 billion in 2019 as investors have gotten more comfortable with how they react across different market environments.

There are indications that the bank may be looking to expand its toehold in the U.S. wealth management market after abandoning it in 2016.

While the deadly virus threatens to harm the world economy, the funds have remained popular as the Fed signals low rates for the foreseeable future.

To fill the gap, they are looking at the existing debt market with fresh eyes, tapping into potentially overlooked asset classes.