Asset Managers
The latest news on top asset managers, including updates on mergers and acquisitions, as well as new investment strategies and fund offerings.
Affluent 'Advice Seekers' Want One Advisor but Seek Better Options: Cerulli
By Michael S. FischerAdvisors need to build credibility with these investors to keep them loyal, Cerulli says.
October 15, 2024
Goldman Profit Jumps 45%; Stock Trading Set for Record YearThe bank's asset and wealth management business posted revenue of $3.75 billion, up 16% from a year earlier.
October 15, 2024
Schwab Soars on Earnings Beat as Firm Pays Down Costly DebtEarlier this month, the firm named Rick Wurster as its next chief executive officer.
October 14, 2024
B. Riley Sells Majority Stake in Great American to Oaktree FundsThe deal could help the troubled broker-dealer and investment firm, now wrestling with a debt load estimated at about $2 billion.
October 11, 2024
BlackRock Enters New League With $450B in Alternative AssetsThe closing of the firm's $12.5 billion acquisition of GIP means it's closing in on industry leaders like Blackstone, Apollo and KKR.
October 11, 2024
Falling Rates Aren't as Bad as Feared for Wells Fargo, JPMorganThe banks' shares rose after they reported quarterly earnings that included upbeat results in investment banking and capital markets.
October 10, 2024
TD Fined $3.1B, Hit With Asset Cap Over Money LaunderingThe news follow Toronto-Dominion Bank's guilty plea over its failure to prevent money laundering by drug cartels and other criminals.
October 09, 2024
Wall Street Salaries Fall Further From Pandemic HeightsThe 5.2% drop on the prior year was largely due to smaller bonuses, which were $176,500 on average.