Wealth management

It has to wrestle with how the Federal Reserve's rate increases are crimping dealmaking, raising the cost of borrowing and ending a period of rapid growth.

Some concerns linger over the sector after Silicon Valley Bank's collapse last month. The most pressing worry now, analysts say, is not whether banks will survive but how much money they'll make in the coming months.

The addition of investment bank Capstone Partners and the wider geographic footprint that resulted from the acquisition of TCF Financial helped drive a 58% increase in net income during the third quarter.

The House passed the legislative package, which includes an excise tax on stock buybacks, in a 220-207 vote.

Older bank-owned loans, part of the Federal Family Education Loan Program, are repackaged into bonds that trade in the asset-backed securities market.

The funds have relatively small exposure, but unwinding such assets is complex and could mean losses as they are trading at deep discounts and liquidity is scarce.

Pension funding versus liabilities was close to 100% at the end of 2021, for the first time since the financial crisis, according to investment advisory firm Milliman.

The company reached an agreement with 39 states to pay $1.85 billion to resolve claims that it had used predatory lending practices.

In no other industry would a debt-financed investment that's the equivalent of going to medical school be considered the same as a film-studies degree.

The survey results signal a greater willingness on the part of portfolio managers to carry or add additional credit risk to their portfolios.

The board member says documents have been withheld amid a federal investigation, intensifying the imbroglio at the state school employees’ retirement plan.

Deals, trends and research in structured finance and asset-backed securities for the week of March 19-25

The Athene acquisition completes a process that Rowan – who succeeds Black as CEO no later than July – started in 2009, when he created the annuity business so that it would send vast sums of cash to Apollo for investments

Wells Fargo plans to sell its asset management business to two private equity firms, part of Chief Executive Charlie Scharf's efforts to dump nonessential operations and help the bank emerge from years of scandals.

Wells Fargo, reeling from years of scandals, is unloading several businesses as it seeks to simplify its structure. The sale of the asset management unit could fetch more than $3 billion, according to industry sources.

Wells Fargo is exploring the sale of its asset management unit, a business that could fetch more than $3 billion, according to a person briefed on the matter.

Apollo Global Management Inc. board members are investigating co-founder Leon Black’s ties to disgraced financier Jeffrey Epstein after more information emerged this month about their longtime business dealings.

Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers.

Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday. But delinquencies also fell across all debt categories, thanks to government and lender relief efforts.

JPMorgan Chase Asset and Wealth Management Private Bank is pooling over 400 seasoned mortgage loans from its high-net worth clients. The loans are considered low-risk, but were not tested against CFPB qualified-mortgage standards.