Friday, January 24

Tag: Wells Fargo

Big Banks Need More Out of Wall Street
7Dec By adminNo Comments
Money

Big Banks Need More Out of Wall Street

As the calendar turns for the biggest banks, a big question mark looms: Where will growth come from next year?A major feature of the global Wall Street banks is the diversity of their revenue sources. They don’t just make money from lending and deposits, like many regional banks, but also via trading and corporate advisory fees. And while volatile interest rates are known to scare chief executives and corporate boards from making big acquisition moves, they can sometimes be a big boost for trading desks.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Are banks open today or on Veterans Day? Is the post office closed? Here’s what to know.
11Nov By adminNo Comments
Money

Are banks open today or on Veterans Day? Is the post office closed? Here’s what to know.

Art helps female Afghan army veterans heal U.S. military veterans use art to help displaced female Afghan army veterans 04:22 With Veterans Day falling on a Saturday this year, some banks won't be open on Friday and others will be closed on Saturday in observance of the federal holiday that honors Americans who served in the military. Post offices will be closed for the holiday, but stock markets will operate normally.Are banks open today or...
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Customers at Bank of America, Wells Fargo and other banks grappling with deposit delays
6Nov By adminNo Comments
Money

Customers at Bank of America, Wells Fargo and other banks grappling with deposit delays

Customers at major U.S. banks including Bank of America and Wells Fargo complained about delays with their direct deposits on Monday, following a glitch with processing payments that began Friday. Bank of America didn't respond to a request for comment, while Wells Fargo referred questions to The Clearing House, a payments company that operates the only private-sector automated clearing house (ACH) system in the U.S. The Clearing House didn't immediately respond to a request for comment. On Friday, a spokesman for the organization said there had been a "processing error with an ACH file" on the previous day, according to CNBC.  The Federal Reserve on Friday said the problem wasn't related to a cybersecurity issue and that it had been r...
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Banking giant Wells Fargo prepares for wealth battle after $1 bn turnaround
24Sep By adminNo Comments
Business

Banking giant Wells Fargo prepares for wealth battle after $1 bn turnaround

By Hannah LevittThree years and nearly $1 billion later, Wells Fargo & Co. is finally playing offense in one of Wall Street’s hottest battlegrounds: wealth management.   The banking giant is trying to lure hundreds of independent advisers to join its platform as part of a larger push to expand the firm’s business catering to rich clients, according to Barry Sommers, who oversees Wells Fargo’s wealth and investment management unit. The independent offering is already Wells Fargo’s fastest-growing wealth channel. “We believe over the next three to five years there’s a significant opportunity to gain a lot of market share,” Sommers said in an interview from Wells Fargo’s offices in New York’s Hudson Yards neighborhood. The moves are a far cry from j...
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