UBS's Focus on Wealthy Clients Cushions Against Losses

Swiss lender UBS said it could start buying back stock again later this year despite the shadow over markets from the coronavirus pandemic. 


 
Carlyle Co-CEO Glenn Youngkin to Step Down

Carlyle Group said its co-chief executive Glenn Youngkin will step down, leaving Kewsong Lee in sole charge of one of the world's largest private-equity firms. 


 
Arkansas Pension Sues Allianz Over More Than $700 Million Loss

An Arkansas public pension plan sued Allianz Global Investors and its corporate parent, alleging the money manager violated its fiduciary duties and abandoned risk controls when it sought to reverse February losses by doubling down on a series of unprofitable trades. 


 
Wells Fargo CFO John Shrewsberry to Leave

Wells Fargo said it would replace its long-serving chief financial officer, the latest executive to leave as the bank's new CEO shakes up top management. 


 
Robinhood Cancels U.K. Launch Amid U.S. Outages, Controversy

Online brokerage Robinhood Markets canceled its U.K. launch plans, saying 'the world has changed a lot over the past several months.' 


 
Temasek's Net Portfolio Value Falls Marginally to $214 Billion

Singapore state-owned investment company Temasek Holdings said its net portfolio for the year ended March fell 2.2% to $214 billion and warned of a challenging investment climate ahead. 


 
China's Ant Group Will Bestride Chinese Markets

Ant Group is named after a small creature, but it is shaping up to be a leviathan of China's markets. Would-be investors must hope that is due to real heft, and not hot air. 


 
Trump Fed Nominees Shelton, Waller Confirmed by Senate Committee

A controversial Trump administration nominee for the Federal Reserve's policy making board cleared a major hurdle in her path to confirmation Tuesday after a Senate panel voted to support the choice. 


 
Financial Services Roundup: Market Talk

The latest Market Talks covering Financial Services 


 
UBS to Pay $10 Million to Resolve SEC Charges

UBS will pay more than $10 million to resolve charges that the firm broke rules aimed at giving mom-and-pop investors priority access in buying fresh municipal bonds.