KeyCorp

The bank recruited a former executive from Vanderbilt University’s investment office to assume a newly created post directing its third-party manager research efforts.

Many advisors in branches today "don't want to ride the circuit and go to three other branches and have smaller-dollar clients," says industry observer.

The rep was suspended for 18 months and fined $7,500 for allegedly adding his wife as a 50% primary beneficiary to a customer's variable annuity without the customer's knowledge.

More banks are implementing second-story adviser programs as they embrace advice-based client relationships in the wake of the fiduciary rule.

KeyCorp acquired the personal financial management tool for an undisclosed sum.

As second-story advisers, they can focus on servicing their books without the burden of helping the branches with training and sales development.

Banks have warmed up to digital wealth management tools but will need to use their human advisers, too, to beat fintechs.

Tom Scaturro will lead Key Private Bank market teams in Florida and the Hudson Valley/metro New York region.

The former Wells Fargo executive will command a team of 10 local private bankers in the Hudson Valley and metro New York market.

11 executives were recently tapped to lead wealth management and related investment services teams at Bank of the West, BNY Mellon, Key Private Bank and U.S. Bank. Find out who they are and what their new roles entail.