Bank Vontobel will acquire the international portfolio of U.S.-based clients from Swiss private banking peer Lombard Odier as it seeks to expand its footprint in the region, Vontobel said on Friday.
China's banking regulator said on Friday it plans to start letting funds from products publicly sold by banks' wealth management subsidiaries be directly invested in shares.
Investors slammed U.S.-based stock funds during the latest week, pulling $17.5 billion, the most cash from such investments since June, according to Lipper data on Thursday.
Goldman Sachs Group Inc on Thursday joined the growing list of high-profile businesses snubbing a Saudi investment conference next week amid mounting pressure on Riyad over the disappearance of journalist Jamal Khashoggi.
The largest U.S. brokerage by sales force Morgan Stanley told its top brokers on Thursday that if they commit to handing off their clients to another broker at the firm when they retire, they can score bigger retirement bonuses.
U.S. Senator Elizabeth Warren said on Thursday the Federal Reserve should not allow Wells Fargo & Co to grow in size until the bank replaces Chief Executive Officer Tim Sloan.
Goldman Sachs economists on Thursday said the firm remained "comfortable" with its call for five more interest rate hikes — two more than priced in financial markets — through the end of 2019.
A growing number of U.S. seniors are choosing Medicare Advantage, the popular private insurance alternative to traditional coverage. But a new report by federal investigators finds that Advantage plans have a pattern of inappropriately denying patient claims.
