For a second straight year, banks are making more money providing loans and underwriting bond sales for green-related projects than they’re earning from fossil fuel companies. Together, banks have generated about $2.5 billion of revenue from climate-focused financing so far this year, compared with $2.2 billion from their work with...
InvestmentNews is looking for the industry’s premier talent for the first-ever Top Advisors ranking. Successful candidates will be evaluated based on assets under management, AUM growth, and organic client growth introduced to the business over the last 12 months. This is an opportunity to be recognized as one of the leading...
The upward trend in life expectancy has been evident for many years and yet still millions of Americans do little to plan for the large chunk of their lives that will live in retirement. A new survey from Western & Southern Financial Group is the latest to highlight a lack...
Growing demand for alternative assets will add more than $8 trillion to assets under management in the next five years, to a total $24.5 trillion, according to a new report. According to the forecast from industry analysts Preqin, the global alternative assets market will grow at an annualized growth rate...
A multi-family office managing $7 billion in client assets has promoted two long-serving members of its team to key management roles. Pitcairn has announced that J. Matthew McCarte, CFP, CTFA, is immediately taking charge of all relationship management teams as managing director and head of wealth management. He has been...
OpenAI is in talks to sell existing employees’ shares at an $86 billion valuation, according to people with knowledge of the matter. The artificial intelligence startup behind ChatGPT is negotiating the transaction, known as a tender offer, with potential investors, said the people, who asked not to be identified discussing...
Options traders are preparing for turbulent yen trading. Fluctuations are likely to increase amid growing concerns the Japanese authorities will intervene to support the weakening currency. At the same time, the yen may come under upward pressure amid speculation of a potential tweak to the Bank of Japan’s monetary policy...
Fortress Investment Group LLC is pitching an investment opportunity within an increasingly popular yet controversial corner of finance — funding other companies’ legal battles. The private equity firm is raising its second fund to invest in legal assets, having already deployed $6 billion into the strategy, according to a person...
Daniel Wiener has long been a fan, if a highly critical one, of Vanguard funds. That led the former personal finance writer for U.S. News & World Report to start a newsletter in 1991 that became the independent authority on the fund company’s investments, The Independent Adviser for Vanguard Investors....
Morgan Stanley chairman and CEO James Gorman, who is stepping down from that lofty perch next year, said Wednesday morning in a conference call with analysts that a recession is not on the immediate horizon. Gorman’s call comes after months of speculation by a variety of market participants, including...