Deutsche Bank

Senior private bankers will play a large role in Deutsche Bank's bid to become one of Wall Street's main European rivals for ultrawealthy customers.

Paul Morris, a managing director in Merrill Private Wealth Management, was deposed about his relationship with Jeffrey Epstein at two other banks now facing suits alleging they knowingly benefited from sex-trafficking.

The return will take place over the next six months.

At least 10 senior bankers and numerous junior employees across the world’s largest wealth management market have left.

The unit was awarded a bonus pool that’s 5%-10% larger than last year, reflecting increased profits and assets, people familiar with the matter say.

The flood of new money has made the area one of the world’s hottest — and most competitive — wealth markets.

The strategies will invest in corporate bonds and large companies that issue high dividends, or have a growth or value tilt, documents show.

BlackRock will appoint an “independent fiduciary to vote” on proxies, according to a spokesman.

The allegation was laid out in an SEC order, which hit a U.S. unit of the firm with a $500,000 penalty.

Analysts have speculated that the firm may sell DWS as one way to cover the costs of a potential takeover of Commerzbank.

The bank has considered buying DWS to combine it with its own unit and spin the two off as a separate entity, sources said.

The products have already attracted $1.3 billion in new assets this year, more than half what they took in during 2018.

Volatility “makes investors a little bit more negative and cautious,” says DWS Chief Financial Officer Claire Peel.

A Manhattan real estate transaction is highlighting the shifting fortunes in global finance.

Building scale has become a key topic for asset managers across Europe amid sustained pressure from larger U.S. rivals.

Wealth managers are reassessing their services as younger investors are focusing on personal values.

Expected to raise $1 billion, the listing could encourage new offerings from many of the country’s cash-starved property firms.

These funds emerged as investors sought yield amid an otherwise low-interest rate environment. As rates normalize, does this approach still have a purpose?

The reps join a slew of others who chose not to cooperate with FINRA investigations — at least 21 since 2017 — and therefore agreed to an automatic ban.

The firm has been working for two years to integrate BlackRock’s risk-management system into its platforms.