Industry News

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Raymond James indie channel is next step for $123M advisor
NEWS ADVISOR MOVES FEB 23, 2024
Raymond James indie channel is next step for $123M advisor

Latest addition continues 2024 run of advisors joining the firm.

Goldman Sachs now says Fed won’t cut until June
NEWS INDUSTRY NEWS FEB 23, 2024
Goldman Sachs now says Fed won’t cut until June

Latest outlook pushes the firm’s expectation back by one month.

Pimco $22B inflows ‘absolutely stunning,’ says Allianz CEO
NEWS INDUSTRY NEWS FEB 23, 2024
Pimco $22B inflows ‘absolutely stunning,’ says Allianz CEO

Investment firm's first six weeks of 2024 almost matches the whole of 2023.

Why one Fidelity manager has sold most US Treasuries
NEWS INDUSTRY NEWS FEB 23, 2024
Why one Fidelity manager has sold most US Treasuries

Majority of his funds' 10-year and 30-year Treasuries have been sold.

Short sellers targeting B. Riley in smear campaign, sources say
NEWS BROKER DEALERS FEB 22, 2024
Short sellers targeting B. Riley in smear campaign, sources say

Short sellers' claims against B Riley are 'often accompanied by outrageous personal harassment,' the company says.

Merit unveils independent advisor affiliate model
NEWS PRACTICE MANAGEMENT FEB 22, 2024
Merit unveils independent advisor affiliate model

'Think of it as a form of courting, a time for a firm owner to ‘date’ a prospective partner before ‘marrying’ and making the decision to merge or be acquired,' Merit CEO Rick Kent says.

AlTi’s upper-high-net-worth ambitions get $450M boost
NEWS INDUSTRY NEWS FEB 22, 2024
AlTi’s upper-high-net-worth ambitions get $450M boost

The global wealth and alternatives manager is getting strategic investments from Allianz X and Constellation Wealth Capital.

New role announced for Nitrogen co-founder and former CEO
NEWS FINTECH FEB 22, 2024
New role announced for Nitrogen co-founder and former CEO

Aaron Klein brings two decades of experience to wealthtech consultancy.

Financial crime compliance costs reach $61B for financial institutions  
NEWS REGULATION AND LEGISLATION FEB 22, 2024
Financial crime compliance costs reach $61B for financial institutions  

LexisNexis report reveals almost all firms in the US and Canada are affected.

Nvidia earnings outpacing its stock, which is still relatively cheap
NEWS INDUSTRY NEWS FEB 22, 2024
Nvidia earnings outpacing its stock, which is still relatively cheap

With AI soaring, the chipmaker keeps delivering for investors.

Private credit for infrastructure is soaring, at banks' expense
NEWS INDUSTRY NEWS FEB 22, 2024
Private credit for infrastructure is soaring, at banks' expense

The market is set for long-term growth amid energy transition.

Nikkei smashes 1989 record to enter uncharted territory
NEWS INDUSTRY NEWS FEB 22, 2024
Nikkei smashes 1989 record to enter uncharted territory

Asian tech stocks are rallying and Japan’s equities are on fire.

One of Wall Street's highest-flying women is reportedly quitting
NEWS BROKER DEALERS FEB 22, 2024
One of Wall Street's highest-flying women is reportedly quitting

Goldman Sachs executive had been tipped for CFO and other top roles.

Former Triad broker's medical company loses Florida real estate judgment
NEWS ALTERNATIVES FEB 21, 2024
Former Triad broker's medical company loses Florida real estate judgment

"This is more bad news," says a plaintiff's attorney.

Biden administration cancels $1.2B of federal student loans
NEWS INDUSTRY NEWS FEB 21, 2024
Biden administration cancels $1.2B of federal student loans

The move wipes out loans for those who borrowed less than $12,000 for their higher education.

Citi boosts CEO Jane Fraser's pay to $26M
NEWS BROKER DEALERS FEB 21, 2024
Citi boosts CEO Jane Fraser's pay to $26M

The increase comes after Fraser initiated what's billed as the largest reworking of Citigroup in decades.

World's biggest wholesale banks face slowdown in growth, warns Bain & Co.
NEWS INDUSTRY NEWS FEB 21, 2024
World's biggest wholesale banks face slowdown in growth, warns Bain & Co.

Growth could even turn negative as era of cheap money and ultra-low rates ends.

Emerging-market stocks set to erase losses as valuations entice investors
NEWS INDUSTRY NEWS FEB 21, 2024
Emerging-market stocks set to erase losses as valuations entice investors

After a $1 trillion wipeout, emerging markets are back in favor.

Hedge funds have cut back on Magnificent Seven holdings
NEWS EQUITIES FEB 21, 2024
Hedge funds have cut back on Magnificent Seven holdings

Funds were net sellers of big tech stocks in the fourth quarter.

HSBC commits to slashing carbon footprint in capital markets
NEWS ESG FEB 21, 2024
HSBC commits to slashing carbon footprint in capital markets

The global banking group becomes one of the first to set targets.