Sunday , October 22 2017

Banking

Deutsche Bank, Credit Suisse fall in wealth manager ranking

The twin tower skyscraper headquarter offices of Deutsche Bank AG stand in Frankfurt, Germany, on Thursday, Oct. 20, 2016. Unlike Deutsche Bank, which announced plans in June to reduce its branches to 535 from 723 next year, Commerzbank says its branch network is key to its strategy to add two million new clients by 2020, double its previous target. Photographer: Krisztian Bocsi/Bloomberg

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 ...

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