Financial services

John Hancock Financial Opportunities Fund Portfolio Management Update

Monday, December 9, 2019 - 10:07pm

BOSTON, Dec. 9, 2019 /PRNewswire/ - John Hancock Advisers, LLC today announced an update to the portfolio management team for the John Hancock Financial Opportunities Fund (NYSE: BTO) (the "Fund"), a closed-end fund managed by John Hancock Advisers, LLC (the "Adviser") and subadvised by Manulife Investment Management LLP (the "Subadviser").

Key Points: 
  • BOSTON, Dec. 9, 2019 /PRNewswire/ - John Hancock Advisers, LLC today announced an update to the portfolio management team for the John Hancock Financial Opportunities Fund (NYSE: BTO) (the "Fund"), a closed-end fund managed by John Hancock Advisers, LLC (the "Adviser") and subadvised by Manulife Investment Management LLP (the "Subadviser").
  • Over the coming months she will continue to manage the portfolio and work closely with the investment team to ensure a smooth transition of management responsibility.
  • Portfolio managers Ryan Lentell and Susan Curry will continue to manage the Fund.
  • John Hancock is a division of Manulife Financial Corporation, a leading international financial services group that helps people achieve their dreams and aspirations by putting customers' needs first and providing the right advice and solutions.

Wells Fargo and FHLB Dallas to Award $8K in Funds to Help The Samaritan House

Monday, December 9, 2019 - 9:28pm

Wells Fargo and the Federal Home Loan Bank of Dallas (FHLB Dallas) will award $8,000 in Partnership Grant Program (PGP) funds to The Samaritan House, Inc., a nonprofit organization that provides supplemental food and emergency housing, as well as comprehensive case management and referrals in Las Vegas, New Mexico.

Key Points: 
  • Wells Fargo and the Federal Home Loan Bank of Dallas (FHLB Dallas) will award $8,000 in Partnership Grant Program (PGP) funds to The Samaritan House, Inc., a nonprofit organization that provides supplemental food and emergency housing, as well as comprehensive case management and referrals in Las Vegas, New Mexico.
  • The grant will be used to help equip the organizations daytime center and multipurpose classrooms.
  • The media is encouraged to join local dignitaries and bank representatives at a check presentation at 1:00 p.m. Wednesday, December 11, 2019, at Wells Fargos offices at 701 Douglas Avenue in Las Vegas, New Mexico.
  • The structure of the PGP enables FHLB Dallas member institutions like Wells Fargo to contribute $500 to $4,000 to a community-based organization (CBO), which FHLB Dallas matches at a 3:1 ratio.

CIBC's Agility Savings Account Named a Best of 2020 by GOBankingRates.com

Monday, December 9, 2019 - 5:00pm

CHICAGO, Dec. 9, 2019 /PRNewswire/ - CIBC Agility Savings, the online-only high interest savings account offered by CIBC Bank USA, was named a Best Savings Account of 2020 by GOBankingRates.com.

Key Points: 
  • CHICAGO, Dec. 9, 2019 /PRNewswire/ - CIBC Agility Savings, the online-only high interest savings account offered by CIBC Bank USA, was named a Best Savings Account of 2020 by GOBankingRates.com.
  • GOBankingRates.com highlighted CIBC Agility's high rate, 24/7 online access and no monthly fees as key features of the account.
  • "We are pleased that GOBankingRates.com recognizes the great value provided by a CIBC Agility Savings account," said Brant Ahrens, President, CIBC US Retail and Digital Banking.
  • CIBC Agility was introduced in May 2018 and provides an attractive interest rate to those looking to reach their savings goals faster.

Gateway First Bank Named a Winner of the Oklahoma Top Workplaces 2019 Award

Monday, December 9, 2019 - 2:31pm

Gateway First Bank has been awarded a Top Workplaces 2019 honor by The Oklahoman.

Key Points: 
  • Gateway First Bank has been awarded a Top Workplaces 2019 honor by The Oklahoman.
  • The Top Workplaces award is about much more than recognition and celebration, said Eric Rubino, CEO of Energage.
  • Its an honor to be named to the Top Workplaces list seven years in a row, said Stephen Curry, Chairman and CEO of Gateway.
  • Established in 2019 after the merger of Gateway Mortgage Group with a 100-year old bank, Gateway First Bank emerged as a leading financial institution that provides digital banking and mortgage services for consumers and commercial customers.

AccessFintech Partners with Citi, Credit Suisse, Goldman Sachs and J.P. Morgan to Standardise the Industry’s Settlement Workflow

Monday, December 9, 2019 - 2:00pm

Citi, Credit Suisse, Goldman Sachs and J.P. Morgan have jointly launched an industry-wide collaboration workflow utilizing AccessFintechs Global Data Network, focusing on settlements and supporting multiple asset classes.

Key Points: 
  • Citi, Credit Suisse, Goldman Sachs and J.P. Morgan have jointly launched an industry-wide collaboration workflow utilizing AccessFintechs Global Data Network, focusing on settlements and supporting multiple asset classes.
  • The aim of the initiative is to reduce resources and improve resolution times in the settlements process.
  • Steve Morgan, Head of Markets Operations Solutions at Citi said: The current settlement process involves many participants to bilaterally clear trades.
  • Brian Steele Managing Director, Global Head of Market Solutions at Goldman Sachs, said: Goldman Sachs continues to focus on enhancing our front-to-back client experience through innovative solutions and collaboration with industry partners.

Truist to Present at the Goldman Sachs U.S. Financial Services Conference

Monday, December 9, 2019 - 1:20pm

CHARLOTTE, N.C., Dec. 9, 2019 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced that Chairman and Chief Executive Officer Kelly S. King will present at the Goldman Sachs U.S. Financial Services Conference in New York City on Tuesday, December 10, 2019, at 10:30 a.m. Eastern Time.

Key Points: 
  • CHARLOTTE, N.C., Dec. 9, 2019 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced that Chairman and Chief Executive Officer Kelly S. King will present at the Goldman Sachs U.S. Financial Services Conference in New York City on Tuesday, December 10, 2019, at 10:30 a.m. Eastern Time.
  • A live audio webcast and the presentation materials will be available on the day of the conference at ir.truist.com under Events & Presentations.
  • Truist Financial Corporation (NYSE: TFC) is a purpose-driven company dedicated to building a better future for its clients, teammates and communities.
  • Headquartered in Charlotte, North Carolina, Truist serves approximately 10 million households with leading market share in many high-growth markets in the country.

Voya Investment Management Named to Pensions & Investments Magazine's "2019 Best Places to Work in Money Management" List for the Fifth Consecutive Year

Monday, December 9, 2019 - 1:50pm

Voya Investment Management, the asset management business of Voya Financial, Inc. (NYSE:VOYA), announced today that it has been named to Pensions & Investments magazine's "2019 Best Places to Work in Money Management" list.

Key Points: 
  • Voya Investment Management, the asset management business of Voya Financial, Inc. (NYSE:VOYA), announced today that it has been named to Pensions & Investments magazine's "2019 Best Places to Work in Money Management" list.
  • This is the fifth consecutive year Voya has been named to the list.
  • Pensions & Investments partnered with Best Companies Group, an independent research firm specializing in identifying great places to work, to conduct a two-part survey process of employers and their employees.
  • Voya Investment Management was named in 2015, 2016, 2017, 2018 and 2019 as a Best Places to Work by Pensions & Investments magazine.

Brandywine Global Receives Its 5th Pensions & Investments Best Places to Work in Money Management Award

Monday, December 9, 2019 - 1:48pm

Brandywine Global Investment Management, LLC announced today it was named a Best Place to Work in Money Management for 2019 by Pensions & Investments.

Key Points: 
  • Brandywine Global Investment Management, LLC announced today it was named a Best Place to Work in Money Management for 2019 by Pensions & Investments.
  • Presented by Pensions & Investments, the global news source of money management, the eighth-annual survey and recognition program is dedicated to identifying and recognizing the best employers in the money management industry.
  • The award marks the fifth time, and fourth consecutive time, Brandywine Global has been recognized by Pensions & Investments as a Best Place to Work among managers with 100 to 499 employees.
  • For a complete list of the 2019 Pensions & Investments Best Places to Work in Money Management winners and write-ups, go to http://www.pionline.com/bptw2019
    Brandywine Global Investment Management, LLC ("Brandywine Global") believes in the power of value investing.

Bank of America Expands Unlimited Zero-Dollar Trades to All Merrill Edge Self-Directed Clients

Monday, December 9, 2019 - 1:00pm

Merrill optimizes and continuously monitors trades and does not accept payment for order flow.

Key Points: 
  • Merrill optimizes and continuously monitors trades and does not accept payment for order flow.
  • Rewarding relationships With more than 6 million members, Preferred Rewards is the first no-fee program of its kind that recognizes and rewards clients for choosing to do more across their Bank of America and Merrill accounts.
  • Clients can easily manage and transfer funds between their Bank of America banking and Merrill investment accounts in real time and with a single login.
  • Banking products are provided by Bank of America, N.A., and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation.

Texas Capital Bancshares and Independent Bank Group to Combine in Merger of Equals to Create the Premier, Texas-Based Super Regional Bank with the Enhanced Scale and Resources to Serve Clients Nationally

Monday, December 9, 2019 - 12:00pm

The name of the combined holding company will be Independent Bank Group and the name of the combined bank will be Texas Capital.

Key Points: 
  • The name of the combined holding company will be Independent Bank Group and the name of the combined bank will be Texas Capital.
  • Former Texas Capital shareholders will own 55% and Independent Bank Group shareholders will own 45% of the combined company.
  • Together, Independent Bank Group and Texas Capital are ideally positioned to leverage their respective strengths to deliver exceptional operational and financial performance.
  • David R. Brooks, Independent Bank Group Chairman and CEO, said, Combining Independent Bank Group and Texas Capital is the logical next step for both companies.