Bloomberg

Bloomberg
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BNY Mellon plans to launch ETF focusing on innovation space
INVESTING ETFS JAN 31, 2023
BNY Mellon plans to launch ETF focusing on innovation space

The BNY Mellon Innovators ETF will invest in innovation-driven companies, which are considered to be ‘leading-edge’ firms.

AIG interim CFO Lyons fired over confidentiality breach
RETIREMENT LIFE INSURANCE AND ANNUITIES JAN 31, 2023
AIG interim CFO Lyons fired over confidentiality breach

Sabra Purtill succeeds Lyons as the insurer's interim CFO, while Turab Hussain was named interim chief actuary.

BNY Mellon, Wall Street firms find the lure of crypto too strong to resist
INVESTING ALTERNATIVES JAN 30, 2023
BNY Mellon, Wall Street firms find the lure of crypto too strong to resist

Despite all that’s gone wrong in the industry, the world’s largest custodian bank and other financial giants are hoping to expand in crypto.

Goldman cuts CEO Solomon's pay about 30%, to $25 million
YOUR PRACTICE PRACTICE MANAGEMENT JAN 30, 2023
Goldman cuts CEO Solomon's pay about 30%, to $25 million

The CEO's package includes $2 million in base salary and $23 million in variable compensation, with $16.1 million of that in the form of restricted stock units.

ChatGPT’s ability to make a market-beating ETF is put to the test
YOUR PRACTICE FINTECH JAN 27, 2023
ChatGPT’s ability to make a market-beating ETF is put to the test

The AI tool explains that the market is too unpredictable to design such a fund, while warning about the need to pick investments that align with goals and risk tolerance.

ESG debt pile barreling toward $5 trillion 
INVESTING ESG JAN 27, 2023
ESG debt pile barreling toward $5 trillion 

The Institute of International Finance forecasts a rebound in environmental, social bond issuance.

Morgan Stanley fines bankers over $1 million each for using unapproved messaging platforms
YOUR PRACTICE FINTECH JAN 26, 2023
Morgan Stanley fines bankers over $1 million each for using unapproved messaging platforms

The firm is the latest bank to require individual staff to bear some of the burden of an unprecedented regulatory investigation.

Popular 401(k) funds off to strong start in 2023
RETIREMENT RETIREMENT PLANNING JAN 25, 2023
Popular 401(k) funds off to strong start in 2023

After tanking in 2022, some of the biggest actively managed funds in 401(k)s are outperforming thanks to a comeback in tech stocks.

SEC proposes new conflicts-of-interest rule aimed at certain securitizations
NEWS INDUSTRY NEWS JAN 25, 2023
SEC proposes new conflicts-of-interest rule aimed at certain securitizations

SEC Chair Gary Gensler called the measure an 'unfinished step in Congress’s vision for financial reform' following the 2008 financial crisis.

Bank of America grants employees shares
YOUR PRACTICE PRACTICE MANAGEMENT JAN 25, 2023
Bank of America grants employees shares

Staffers earning up to $500,000 a year will share in a pool of restricted stock, according to a memo from CEO Brian Moynihan.