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Top related persons:
Wells - 1 Charlie Scharf - 1 Scharf - 1 He's - 1 Wells Fargo - 1 Abbot Downing - 1 Goldman Sachs - 1 pare - 1
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Federal - 1 Wells Fargo Advisors - 1 JPMorgan - 1 Federal Reserve - 1 Bloomberg - 1 New York Times - 1 Wells - 1

Search resuls for: "Abbot Downing"


6 mentions found


☆ How the president of Abbot Downing tried to save the Wells Fargo unit for the ultra-rich from being folded
  + stars: | 2023-05-16 | by ( Hayley Cuccinello | ) www.businessinsider.com   time to read: +4 min
Wells Fargo folded Abbot Downing, which served the bank's wealthiest clients, in late 2020. In late 2020, Wells Fargo disbanded Abbot Downing, the unit that catered to the bank's wealthiest clients. Abbot Downing was folded into Wells Fargo's private bank, which also serves rich clients, but it wasn't a safe haven. Business Wire via APGinter left Wells Fargo in September 2021 to launch a new registered investment advisor the following March. Some ex-Abbot Downing employees refer to Callan the "new Abbot Downing" for its focus on the ultra-rich set.
☆ Thanks for the memories (and money) index-rebalance strategies
  + stars: | 2023-05-12 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +4 min
A man pauses outside of the New York Stock Exchange (NYSE) on January 15, 2016 in New York City. Index-rebalance strategies, the talk of the town just a few short years ago, are seemingly on their last legs these days. What doomed the index-rebalance strategy is a tale as old as time on Wall Street. Times are tough now, but as Alex notes in his story, not everyone is completely giving up on the strategy. And while we're talking Man Group, here's a rundown on a program meant to help non-tech workers learn data-science skills to help streamline their jobs.
☆ Abbot Downing's president pitched a buyout to save the Wells Fargo unit from being folded. The bank said no, and employees have fled.
  + stars: | 2023-05-11 | by ( Hayley Cuccinello | ) www.businessinsider.com   time to read: +4 min
Wells Fargo folded Abbot Downing, which served the bank's wealthiest clients, in late 2020. In late 2020, Wells Fargo disbanded Abbot Downing, the unit that catered to the bank's wealthiest clients. Abbot Downing was folded into Wells Fargo's private bank, which also serves rich clients, but it wasn't a safe haven. Business Wire via APGinter left Wells Fargo in September 2021 to launch a new registered investment advisor the following March. Some ex-Abbot Downing employees refer to Callan the "new Abbot Downing" for its focus on the ultra-rich set.
☆ Inside Wells Fargo's 'chaotic' journey to transform its services for the ultrarich
  + stars: | 2023-05-04 | by ( Hayley Cuccinello | Reed Alexander | ) www.businessinsider.com   time to read: +23 min
In late 2020, some 300 Wells Fargo employees were summoned to a conference call. "I actually welcomed that, although I did like Abbot Downing," he said of folding Abbot Downing into the private bank. One team of legacy Abbot Downing employees with $3.5 billion in assets left for Hirtle Callaghan in June 2021. Today, Ginter runs a registered investment advisor called Callan Family Office, which some former Abbot Downing employees refer to as "the new Abbot Downing." Are you a current or former client of Wells Fargo Private Bank or Abbot Downing?
☆ Wells Fargo is pushing for quantity over quality in its private bank
  + stars: | 2023-05-04 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +5 min
Which brings us to a fantastic story about Wells Fargo's decision to reorganize how it serves its ultra-rich clients. And while many understood some changes were necessary, nearly everyone agreed the bank didn't go about it the right way. Read more about Wells Fargo's chaotic reorganization of its private bank. It's the latest move in what has been an active 12 months for the bank's tech division. The accounting firm had signed off on financial statements from Silicon Valley Bank, Signature Bank, and First Republic, the Financial Times reports.
☆ Wells Fargo is undergoing a major transformation under CEO Charlie Scharf. These are the units most affected.
  + stars: | 2022-06-28 | by ( Business Insider | ) www.businessinsider.com   time to read: +8 min
Wells has been revamping its wealth business and shrinking its mortgage unit under Charlie Scharf. Change is hard — just ask Charlie Scharf, CEO of Wells Fargo. And for every scandal Wells Fargo has put behind it, a new one seems to crop up. Wells Fargo has fired dozens of loan officers accused of misusing appraisal waivers. Wells Fargo CEO Charlie Scharf has called the change in leadership at the bank a 'dramatic change.'
Persons: Wells, Charlie Scharf, Scharf, He's, Wells Fargo, Abbot Downing, Goldman Sachs, pare, Fannie Mae, Freddie Mac, Read, — Organizations: Federal, Wells Fargo Advisors, JPMorgan, Federal Reserve, Bloomberg, New York Times, Wells Locations: Wells Fargo, San Francisco, Wells
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