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Top 8 News Stories of the Week

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This week’s biggest news stories include a range of topics from new accounts for wealthy retail clients (Vanguard) to new accounts for teenagers (Fidelity), as well as the women and men in waiting who could succeed the CEOs of JPMorgan Chase and Morgan Stanley. 

Like their beginnings in the 1930s when the Glass-Steagall Act forced the breakup of J.P. Morgan & Co. into one commercial bank (J.P. Morgan) and one investment bank (Morgan Stanley), the two institutions appear to be going their separate ways in preparation for the retirements of their 60-something CEOs.

There’s also another big job cut at UBS, another lawsuit against Wells Fargo and efforts on Capitol Hill to reverse actual and pending policies from the Biden White House.