Wells Fargo will debut a multichannel ad campaign in April, CEO Tim Sloan says. The campaign, titled "Building Better Every Day," will focus on changes the bank has made over the past several months to counter last fall's controversy involving fake account openings.
Character strengths such as perseverance and self-discipline, not cognitive skills, are the true driver of success in life, according to Brookings Institution research. "There is a long research literature on the importance of self-control, or the ability to defer gratification -- a close corollary of our conceptualization of the character strength of prudence," the report says.
Macy's new CEO Jeffrey Gennette takes the reins Thursday with a plan to revive the department store through a focus on high-end designer fashions and off-price items. Gennette, who worked his way up from executive trainee to president over more than three decades, said the retailer will work to increase sales by doing more to win over non-core customers.
Despite some uncertainty brought on by upcoming national elections, the prospects for the French economy are getting better, said Francois Villeroy de Galhau, the Bank of France's governor. But France also needs to move faster with pension and labour market reforms and the European Central Bank should continue to use monetary policy to stimulate Europe's economy, he said at a conference in Frankfurt, Germany.
People aiming for early retirement must follow an aggressive savings plan to account for a shorter time span for investment. Katie Brewer reviews five steps, including a frank assessment of someone's financial situation.
Nationwide has released another spot featuring country music star Brad Paisley incorporating new lyrics into the brand's famous jingle. The spot ends with Paisley singing, "A little help can go a long way in your life, and Nationwide is on your side."
ASIFMA CEO Mark Austen said that China is ready to move ahead strongly in capital market development. Austen said the country's progress in this area is unprecedented and its positive attitude to attracting foreign investors and willingness to make necessary reforms, along with a general trend away from low interest rates globally, could help it "to learn from the experience of developed markets, avoid mistakes and leapfrog for their successes".
Marcus Schenck, chief financial officer at Deutsche Bank, was appointed deputy CEO this month, with several industry insiders commenting that he is on course to become the bank's eventual leader. Schenck, who has a reputation for effective negotiation and clear views on the bank's future direction, will move to full-time oversight of the investment bank once a CFO is appointed.
Market participants and authorities in Europe are concerned that the US might decide against implementing the Basel Committee on Banking Supervision's Fundamental Review of the Trading Book rules. The concerns have prompted discussion about delaying implementation of the rules in Europe.
The Supreme Court in the UK ruled that the Financial Conduct Authority didn't identify Achilles Macris, a former executive at JPMorgan Chase, in an enforcement notice related to the 2012 "London whale" incident. Several similar cases against the UK regulator are expected to be abandoned in light of this ruling, lawyers said.
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