Banking

Credit Suisse Group is shifting resources in the pursuit of business from a broader range of rich clients, as the lender focuses more on wealth management amid cuts to its troubled investment bank. 

Following another strong quarter for wealth management, here's what Goldman Sachs will do next in its hunt for the almost wealthy, and why it matters.

In a quarter filled with economic and geopolitical uncertainty, the New York investment firm’s digital consumer bank achieved record-high revenues. Executives have said they plan to drive up revenues in that segment to $4 billion by 2024.

Missouri-based UMB Financial says it would acquire 157,000 accounts across more than 3,000 employer groups from Old National Bancorp in Indiana.

JPMorgan Chase, Bank of America, Goldman Sachs and Wells Fargo joined Citigroup in pledging to expand benefits to cover travel for out-of-state abortions. Smaller banks in blue states were more vocal, with one female CEO saying: “I stand in disbelief.”

Atlantic Union in Virginia made the most of its four-year foray into the registered investment advisory business, but it decided to take a step back after concluding one of its banking clients would do an even better job and that it could invest the proceeds elsewhere.

Regulatory pressure and business exigencies have spurred foreign banks to draw down their presences in the United States in recent years. But Spanish bank Santander has been going the other way, expanding its U.S. business presence.

The Alabama bank hopes that its new InvestPath platform, which combines automation and personal interaction, will attract first-time investors.

Financial advisors can achieve up to 10.25% annual return, betting on recent college graduates who don’t want to damage their credit.

The new service, which will offer one-on-one advice, is open to people with at least $100,000 in investable assets. It’s part of the company’s ongoing efforts to build a full suite of retail banking products.