In a case that is being closely watched by the financial sector, the civil fraud trial against former President Donald Trump regarding allegations of exaggerated property valuations could commence as early as Monday. An appeal by Trump to postpone the trial was dismissed by a New York appeals court...
RBC Wealth Management has added a Kansas-based team that managed $1 billion in client assets at UBS, the firm announced Thursday. The Total Wealth Management team is based in Leawood and includes: managing director Patrick McCarthy; senior vice presidents John Brown and Eric Taylor; vice president Scott Jones; associate...
Carson Group has acquired FAI Wealth Management, an advisory firm in Columbia, Maryland, that oversees $300 million in client assets, the firm announced Thursday. FAI, founded in 1987, has seven team members. The firm will rebrand as Carson Group, but it will continue to be led by Mark Stinson, its...
A Series B funding round has raised $31 million for Farther, as backers including Lightspeed Venture Partners joined existing investors to more than double its valuation to $131 million. For Taylor Matthews and Brad Genser, founders of the wealth management firm which combines expert advisors with cutting-edge technology, the total...
More junk-rated companies are likely to default on their debt as the U.S. economy slows, according to Franklin Templeton, which is waiting for wider spreads before buying the bonds. The $1.4 trillion asset manager, which is currently underweight U.S. high yield, may add exposure if spreads start to price...
Citigroup Inc. is in talks to sell its China onshore retail wealth business to HSBC Holdings Plc, as the latter continues to build out its presence in the mainland, according to people familiar with the matter. Citi’s China retail wealth business has about $4 billion of assets and deposits and...
Foreign investors sold the largest amount of Japanese stocks since March last week amid signs of risk aversion. They dumped ¥913 billion ($6.1 billion) of equities, more than three times as much as the previous week, data from Japan Exchange Group Inc. showed. It was the biggest sales on a...
SEC Chair Gary Gensler faced rounds of grilling and scolding at a House Financial Services Committee hearing Wednesday, with Republicans focused on the agency’s efforts on climate-related disclosures, crypto regulation, artificial intelligence, the Consolidated Audit Trail and overall pace of rulemaking. The hearing occurred just ahead of a likely government...
Volume & Velocity When it comes to loans of this kind, another core component of return is the “upfront economics” of the transaction. This is the structuring fee that the lender receives up front for structuring and completing the transaction. Therefore, higher transaction volume leads to more upfront fees passed...
Wells Fargo & Co. is buying the former Neiman Marcus space at Manhattan’s Hudson Yards for roughly $550 million and plans to convert it into offices, according to people with knowledge of the deal. The transaction includes about 400,000 square feet (37,000 square meters) spanning floors five through seven at...