Banco Popular de Puerto Rico

The purchase comes as active asset managers feel intensifying pressure to bulk up as they face stiff competition from passive and index-tracking funds.

Crush of inflows to money-market funds has come even as the funds’ own yields approach zero.

Economic damage wrought by the coronavirus has not stopped investors from piling into the companies able to churn out profits in the stay-at-home world.

“The world has become more digital, less global and more local,” says Amy Lo, co-head of the firm’s Asia Pacific wealth division.

The pandemic has sealed the fate of small, niche offerings that have failed to gain traction.

With return targets growing ever more elusive, many investors are willing to take their chances with private debt and equity.

While he hasn’t received a cash bonus since 2007, part of his stock award will settle in cash when it vests.

The rewards for the men — and they’re all men — are notable, especially given only a third of the top 15 managers on the list beat the S&P 500.

The changes mean smaller universes for some of Wells Fargo’s long-standing business leaders.

The firm plans to bring in more customers by offering direct investments in private companies for the first time.