An investor conference hosted by Citigroup signals the bank continues to recover from the financial crisis. "Citi's restructuring is over, and given our latest capital plan and improving business performance, this is the right time to talk about our path to growth and higher returns," said Ed Skyler, head of communications and government affairs.
Registered investment advisory firms with $100 million or more in assets under management continue to move away from charging commissions, a Financial Planning survey reveals, with the number of such firms that do so falling from 135 to 120 over the past five years. Full introduction of the fiduciary rule, if it occurs, is expected to depress commission revenue further, reinforcing the move toward fixed fees.
Banks will prevail over the financial-technology industry by focusing on customer service, writes Kevin Tynan, senior vice president for marketing at Liberty Bank for Savings. "To succeed in this mission, community banks must emulate innovative online retailers, like Amazon, whose initiatives are not grand but generally minor and intuitive and add up to a beloved brand," he writes.
The House has scheduled a vote today to reverse the Consumer Financial Protection Bureau's arbitration rule. Some of the industry's most influential trade groups, including CBA, have expressed support for a resolution to eliminate the rule.
Regional banks including SunTrust Banks and KeyCorp have posted record fee income from investment banking for the first half of 2017. The low-interest-rate environment has caused regional banks to expand investment banking.
Goldman Sachs has begun offering personal loans and online savings accounts, and analysts say the bank could soon add checking accounts. Goldman wants to "grow a robust consumer banking business," Chief Strategy Officer Stephen Scherr says.
If you want to impress others when meeting them for the first time, practice describing what you do in a concise manner, writes Amna Shamim. Always try to listen more than you talk by using well-timed questions to redirect the conversation when you've been talking too much, Shamim writes.
Bank of America has chosen Dublin to be the home of its EU headquarters after Brexit. The bank will relocate investment banking and market operations from London to Dublin and will also move some other activities from the UK to EU cities.
- Page 1