The New York Post reported Thursday that members of the bank’s board are in talks with Harvey Schwartz to take over as CEO, citing unidentified people.
The Swiss bank’s U.S. wealth arm “effective immediately” is no longer hiring wealth planning associates, trainees who help teams write financial plans and were a farm club for the next generation of advisors.
A federal judge said he’s not ready to sign off on Wells Fargo & Co. collecting $240 million in insurance payments from 20 bank officials in connection with the lender’s unauthorized-accounts scandal — even though the settlement was touted as the largest-ever of its kind.
Broker in Atlanta managed $222 million for Wells customers before jumping to Ameriprise while a Waddell’s Washington State manager joins an independent advisory firm.
In an apparent cost-cutting move, the Swiss banking giant has eliminated a longstanding group that coached financial advisors on growing assets and teaming.
UBS Group AG Chief Executive Officer Sergio Ermotti gave the most decisive verdict yet on the difficult markets faced by Europe’s investment banks, describing conditions as the toughest in years.
Firm imposed new limits on James Cracchiolo’s incentive pay after a majority of Ameriprise shareholders voted their discontent over executive pay.
Former National Basketball Association star Chuck Person admitted to taking thousands of dollars in bribes to steer college players to hire a financial advisor after they turned professional.
Rockefeller names Matt Panarese to run Philadelphia wealth unit, while Wedbush replaces longtime brokerage head with Chris Mone, another former Wilmington Trust regional head.