Wilmington Trust Corp. reported a wider-than-expected second-quarter loss of $116 million, or $1.33 a share, thanks largely to souring construction loans that continue to plague the regional bank.
Citi Private Bank, the private-banking unit of Citigroup Inc., continues its aggressive recruiting from U.S. Trust and has now lured a total of 10 bankers from the Bank of America unit since the end of April.
U.S. Trust Corp., the private banking unit of Bank of America Corp., has hired five senior-level wealth management experts as part of the firm's bid to hire more than 200 advisers and bankers this year.
For years, wealthy retirees from high-tax states in the Northeast and Midwest have been streaming to sunny, low-tax Florida. That stream is now turning into a flood.
In a move into the retirement income market, Barclays Bank PLC on Sept. 1 will launch two structured-note products designed to provide income over 15- to 30-year time spans.
Analysts don't expect last year's gusher from oil and gas master limited partnerships to continue, but they are still recommending the deals for investors seeking income, tax protection and portfolio diversification.
HighTower Advisors LLC, a dually-registered firm that has been successful in luring talent from wirehouses, today announced that it is furthering its expansion efforts by hiring two recruiters who will focus on the Midwest and Western regions of the country.
Elliot Weissbluth calls suit an intimidation tactic designed to deter other advisers from leaving
HighTower Advisors LLC last Tuesday announced that it had snapped up another team of advisers, this time from Morgan Stanley Smith Barney LLC.
Rockefeller & Co., Inc., the wealth management firm that has been looking for a chief executive since the suicide of CEO James McDonald last fall, has changed its name to Rockefeller Financial.
