Bloomberg Wealth managers’ revenue stagnated last year even as firms boosted assets by almost 4 percent, highlighting how the pressure on fees is increasingly spreading to the lucrative business of managing rich people’s money. Companies responded by cutting expenses to bring the cost-income ratio, a measure of profitability, below 80 percent for the first time since 2012, according to a ...

Bloomberg As Denmark reconsiders joining Europe’s bank union, the two biggest parties in the country’s parliament are voicing considerable skepticism. The divisions suggest it’s far from obvious that Denmark will become part of a union that so far only counts euro-zone nations. The minority coalition of Prime Minister Lars Lokke Rasmussen has given itself two years to decide. The EU-skeptic ...

Bloomberg Wall Street banks are being invited by one of their key watchdogs to offer guidance for how to revise the Volcker Rule, one of the industry’s least favourite regulations. The Office of the Comptroller of the Currency said that it is seeking public comment on the Dodd-Frank Act measure that restricts banks’ ability to place market bets with their ...