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Citi requires vaccines for all US workers
YOUR PRACTICE PRACTICE MANAGEMENT OCT 29, 2021
Citi requires vaccines for all US workers

The bank, citing President Joe Biden's directive to federal contractors, is asking staffers to submit proof of vaccination by Dec. 8.

Biden attempts to end deadlock with $1.75 trillion package
NEWS REGULATION AND LEGISLATION OCT 28, 2021
Biden attempts to end deadlock with $1.75 trillion package

The administration believes the package, which includes tax increases and climate and social welfare spending, can pass Congress.

T. Rowe Price to buy Oak Hill for about $4.2 billion
INVESTING ALTERNATIVES OCT 28, 2021
T. Rowe Price to buy Oak Hill for about $4.2 billion

The acquisition of Oak Hill, one of the biggest players in alternative credit, will allow T. Rowe to expand into private debt investing.

Democrats' tax on billionaires targets about 700 people
NEWS REGULATION AND LEGISLATION OCT 27, 2021
Democrats' tax on billionaires targets about 700 people

The plan, sponsored by Senate Finance Committee Chairman Ron Wyden, would require the richest Americans to pay taxes annually on appreciation in publicly traded assets, such as stocks and bonds.

Fidelity International to halve CO2 in portfolio by 2030
INVESTING ESG OCT 26, 2021
Fidelity International to halve CO2 in portfolio by 2030

The London-based firm, which manages more than $785 billion, plans to give portfolio companies time to adopt to its tougher CO2 requirements.

UBS considers changes to global family office unit
NEWS WIREHOUSES OCT 26, 2021
UBS considers changes to global family office unit

The bank is responding to internal wrangling about how the profits from the unit that deals with some of its richest clients are shared between its wealth management and investment management businesses.

UBS to start digital wealth manager in the US
YOUR PRACTICE FINTECH OCT 26, 2021
UBS to start digital wealth manager in the US

The new service, scheduled to begin sometime next year, will service customers with between $250,000 and $2 million in assets, a group that UBS hasn't previously targeted in a meaningful way.

Citi becomes first Wall Street bank to agree to racial audit
YOUR PRACTICE PRACTICE MANAGEMENT OCT 25, 2021
Citi becomes first Wall Street bank to agree to racial audit

The deep dive into the bank's business will be conducted by lawyers at Covington & Burling, and will focus on Citi's 2020 commitment to dedicate $1 billion to initiatives aimed at closing the racial wealth gap in the US.

Regulators warn climate change poses threat to financial stability
INVESTING ESG OCT 22, 2021
Regulators warn climate change poses threat to financial stability

Treasury Secretary Janet Yellen led the panel of top federal regulators that issued the report on climate change, including tentative recommendations for how agencies should begin preparing to contain the risk.

Bitcoin futures ETF fee war is heating up
INVESTING ALTERNATIVES OCT 21, 2021
Bitcoin futures ETF fee war is heating up

VanEck's pending Bitcoin Strategy ETF will carry a management fee of 0.65%, undercutting the 0.95% expense ratio on ProShares' Bitcoin Strategy ETF, which debuted Tuesday.