Citigroup has embarked on a major restructuring process, affecting numerous employees at the start of Thanksgiving week. The bank, following months of planning, is set to implement a series of job cuts as part of what it is calling “a strategic realignment.” This realignment involves reshuffling teams, dismantling an international...
Stablepoint Partners has made its debut as an independent investment advisory firm operating out of Braintree, Massachusetts, that aims to provide bespoke planning and comprehensive investment solutions for its clients. The leadership of Stablepoint is spearheaded by co-founders Christopher Griffith and Henry Wheelwright. These industry veterans were recognized as Best-In-State...
A 230 page proposal, which Finra has submitted to the Securities and Exchange Commission for review, would allow the use of predicted returns in marketing and would apply to brokers dealing with institutions and investors possessing assets over $5 million. The Financial Industry Regulatory Authority Inc. believes that “A member’s...
Goldman Sachs Japan is facing a major transition with the immediate resignation of its president, Masanori Mochida. This abrupt exit marks the end of a notable 38-year tenure for one of Tokyo’s key financial figures. Mochida, who is 69, played a pivotal role in elevating Goldman’s stature in Japan, involving...
UBS Wealth Management USA recently welcomed The Keating Group, a four-member advisory team that had been affiliated with Merrill Lynch, to its ranks. The team, comprised of Maureen Keating, Michael DeCorleto, and Matthew Marques as financial advisors, and Matthew Mardirosian as wealth management associate, brings with them an impressive management...
In a high-stakes legal battle, Walid Chammah, the former chairman of Morgan Stanley, has initiated High Court proceedings against the Austrian investment firm Signa, owned by Rene Benko. The case, revealed by The Telegraph, centers on an alleged unpaid sum of €14m ($15.29m) in fees. Ch Learn more about reprints and licensing...
Strategists at UBS Investment Bank have made bold predictions regarding the Federal Reserve's future interest rate cuts, based on their expectations of an economic downturn. UBS Investment Bank's Arend Kapteyn and Bhanu Baweja have forecasted that the Federal Reserve will start on a substantial m Learn more about reprints and licensing...
A mere 14% of American voters currently believe that their financial situation has improved since President Joe Biden took office, raising concerns about the potential repercussions for his re-election prospects. A recent poll reveals that approximately 70% of voters perceive the president’s economic policies as either detrimental to the...
The world's biggest bank is facing a unique challenge in the largest market on the planet, as it has been forced to resort to moving trades across Manhattan using a physical USB drive. The American branch of Industrial & Commercial Bank of China Ltd., the largest bank globally, has been...
In a strategic move to streamline its operations, UBS Group is offloading $5 billion in managed assets from its high-net-worth client portfolio, as it continues to integrate and reevaluate the recent acquisition of Credit Suisse components. According to its latest earnings report released Tuesday Learn more about reprints and licensing for...