Private banks

“The name may change but our commitment to the business, our clients and our advisors serving these clients is steadfast,” said division head Barry Sommers.

The new global wealth division, which is being formed by combining the firm’s private bank with a unit that serves substantially less wealthy households, will be led by Citi veteran Jim O’Donnell.

It’s the second-biggest hire of the year for the wirehouse.

The move follows efforts to reduce expenses in the company’s global wealth management business.

Talks had focused on plans to attract $15 billion of assets under management, mostly from wealthy Latin Americans, according to people familiar with the matter.

A chance phone call and breakfast changed these advisors’ career trajectories.

“We saw a deterioration in terms of trust, reputation and credibility among all our stakeholders,“ Urs Rohner said

A new platform from the World Wide Fund for Nature aims to provide a foundation for ESG-conscious investors and a list of best-practice providers.

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.

Credit Suisse is pushing deeper into the ranks of billionaires, putting it into closer competition with larger rival UBS.

The venture would mark a return to private banking on U.S. soil after an agreement to transfer its U.S. brokerage to Wells Fargo in 2015.

They have begun eyeing clients with $1 million and less.

Despite ongoing consolidation among investment management platforms, the fintech's chief executive says there's plenty of space to serve advisors who have clients with complex needs.

The team joined AdvicePeriod, which has more than two dozen advisors and $2.2 billion in AUM.

The firm is embracing a playbook beloved by hedge funds: a slew of options trades.

The merged operation will be run by someone yet to be named who will report to Jon Weiss, head of wealth and investment management.

Russell Goldsmith plans to be “quite active” after handing over the top job to his successor in three months.

The advisors agreed not to solicit clients and to return confidential information to the bank.

The bank said it thoroughly investigates all complaints of impropriety after a report said the company is failing to treat some of its female employees fairly.

The two advisors have already transferred about $160 million in client assets, according to their former employer.