The New York Post reported Thursday that another senior executive at Goldman Sachs Asset & Wealth Management was considering heading to the exit, with Laurence Stein, executive vice president and chief operating officer of the group, the next potentially to go. The Post’s reporting about Stein comes after months...
What is fintech? What does a fintech company do? What is considered a fintech company? What are some fintech applications? What are some types of fintech companies? How do fintech companies rate vs. traditional finance companies? What are some benefits of fintech companies? What are some challenges and trends faced by fintech companies? What are some top...
Homeownership remains a key goal for many Americans, but it continues to become one of the hardest to achieve with tight supply pushing up real estate prices and lowering affordability nationwide. The latest stats show that prices are on the rise again with the Black Knight HPI recording an all-time...
Markets settled into a holding patterns ahead of Friday’s key US jobs data, with European stocks and American equity-index futures edging higher, Treasury yields flat and a gauge of the dollar steady. Energy majors were among the gainers in the Stoxx Europe 600 index as crude oil headed for the...
Apollo Global Management Inc. hired BlackRock Inc. veteran Rick Moreno to bolster the buyout giant’s U.S. team targeting investment firms for the ultra-rich. Moreno recently joined Apollo to lead its West Coast family office coverage and will be based in both the San Francisco and Los Angeles areas, an Apollo...
Barclays Plc has earmarked cash from its balance sheet to hold corporate loans and compete directly with private credit funds, according to people with knowledge of the matter, as more banks look for ways to gain a foothold in the $1.5 trillion market for private debt. The strategy, which Barclays...
Federal Reserve Chair Jerome Powell has his data. Financial advisors have theirs. Powell has repeatedly said the central bank will take a “data-dependent” approach to future interest-rate hikes, focusing on numbers like Friday’s all-important August jobs report from the Bureau of Labor Statistics. While the Fed Chair may have more data-collection resources at...
In the ongoing fight between three giant networks of financial advisors, LPL Financial has landed a blow against Cetera Financial Group. Legacy Wealth Advisors, a Town and Country, Missouri-based firm that managed $280 million in advisory, brokerage and retirement plan assets, has left Cetera to join LPL’s broker-dealer, RIA and...
The warm months of 2023 haven’t been a vacation for Charles Schwab Corp. Investor scrutiny of Schwab began in March after the collapse of several midsize banks. In July, Schwab reported a data breach had occurred in May that may have impacted up 61,000 TD Ameritrade customers and could bring...
UBS Group outlined major targets for its integration of former rival Credit Suisse, including 3,000 domestic job cuts and more than $10 billion in cost savings, as it posted the biggest ever quarterly profit for a bank on the back of the bargain acquisition that closed in June. The Zurich-based...