The firm will combine its asset management and private wealth businesses, and also fuse investment banking and trading.
The firm is assessing its head count, CEO James Gorman suggested on an earnings conference call.
The firm reaps rewards from the Federal Reserve's interest rate hike while expenses also came in lower than analysts expected, driving a profit beat.
Thursday’s CPI report is expected to keep pushing the Federal Reserve on path to a big November rate hike.
A BofA survey finds that wealthy young investors have lost confidence in the stock market as a primary vehicle for creating wealth and instead prefer assets like cryptocurrency, real estate and private equity.
By honoring Bernanke, the prize committee have taken an unusual step of adding an actual practitioner of economics policy to their pantheon.
The two retirement giants, along with Alight Solutions, are forming a consortium to automate the transfer of 401(k) accounts with balances below $5,000 when workers change jobs.
Nearly $45 billion flowed into Vanguard ETFs in the third quarter, compared to BlackRock Inc.’s $25 billion haul.
Private foundations are using the funds to sidestep federal laws designed to make sure the wealthy donate money to the needy in a timely fashion, not delay the gifts for generations.
The securities watchdog said she broke US rules by not disclosing she was paid for the promotion.
