Industry

Updated Saturday, May 18, 2013 as of 7:31 PM ET

Industry

Wall Street Wins Rollback in Dodd-Frank Swap-Trading Rules

(Bloomberg) - JPMorgan Chase & Co., Goldman Sachs Group Inc. and the world's largest banks won rollbacks in final Dodd-Frank Act rules that promise to transform the private swaps market by increasing competition.

The Commodity Futures Trading Commission voted 4-1 in Washington today on rules determining how buyers and sellers must trade credit-default, interest-rate and commodity swaps in a $633 trillion global market. The rule weakened a proposal by reducing the number of price quotes buyers must seek on swap- execution facilities after banks said a five-quote requirement was onerous and would impair trading. more »

More in Industry

see all

Krawcheck to Acquire 85 Broads From Former Goldman Executive

Sallie Krawcheck, the former senior executive at Bank of America Corp. and Citigroup Inc., agreed to buy 85 Broads, the global network with 30,000 members that promotes women as business leaders. more »

U.S. Bank Heats Up Marketing to Promote High-Net-Worth Business

Amid intense competition for high-net-worth clients, the Private Client Reserve is ramping up its marketing efforts to differentiate itself from rivals. more »

Baird Adds 4 from Morgan Stanley, UBS, Northern Trust

Baird has bolstered its advisor force with two wirehouse teams with $800 million in assets. more »

Bucket of Likely Bank Failures Nearly Empty

There were a dozen critically undercapitalized banks at the end of the first quarter, according to Trepp, a data analysis firm in New York. Regulators are compelled to close banks when their capital gets that low. Several have failed in recent weeks, while one found a buyer. more »

Wealth Management Presents Opportunity for Banks, But Also Stiff Competition

First the good news about the wealth management fever that's sweeping the U.S. banking industry: there are real opportunities for banks that can adapt quickly. The bad news? Competition is fierce. more »

Ex-Wilmington Trust Loan Officer Pleads Guilty to Fraud

A former loan officer at Wilmington Trust in Delaware is facing jail time after pleading guilty this week to bank fraud. more »

Umpqua Private Bank Targets Business Owners and Gen X Investors in Seattle

Elise Fortin, Umpqua Private Bank’s newly appointed leader in Seattle, believes that Umpqua’s “high-touch” offerings will resonate well with business owners and Gen X investors. more »

More Banks Plan to Add, Not Subtract, Branches

Many banks plan to add to their branch networks over the next few years even though all the evidence suggests that foot traffic is declining and that most banking transactions are now conducted online. more »

JPMorgan Promotes Erik Bisso to Run CIO in North America

JPMorgan Chase & Co. named Erik Bisso to run the bank’s chief investment office for North America, filling a vacancy created last year when Irene Tse left to start a hedge fund. more »

U.S. Bank’s Brokerage Unit Adds Two Advisors in Bismarck, N.D.

Steve Felchle and Jason Ernst, formerly with Wells Fargo, bring the total number of financial advisors at USBI to 532, up from 480 in July 2008. more »

2 Depart Raymond James for Stifel, LPL

Two former branch managers at Raymond James have moved to Stifel and LPL in Austin, Texas. more »

Benjamin Edwards Adds 9 Advisors, 2 Offices

The St. Louis-based firm, which now has 30 offices, opened its third Florida location with an office in Destin and made inroads into Alabama with a new branch in Birmingham. It also added an advisor to its White Plains, N.Y., and Chattanooga, Tenn., location. more »

Banks Face Uncertain Threat from Planned Tuesday Cyberattack

Banks may be about to endure yet another cyberattack by hacktivist groups. more »

Slide Shows