News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

KPMG Posts Slowest Revenue Growth of Big Four Firms

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KPMG recorded $26.4 billion in revenue in its latest fiscal year, up 3.9% in U.S. dollar terms from the previous year.

Wells Fargo Trims Staff in Its Giant Mortgage Unit

Wells Fargo laid off about 60 employees in its mortgage division as the bank continues to reshuffle parts of its business following heightened regulatory scrutiny.

Pimco Goes Small to Get Big in Private Equity

Pimco is betting smaller investors can help propel the bond manager's big push into private equity, debt and real estate, markets are usually reserved for pension plans and wealthy families.

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Bringing Back the Money-Fund Buck?

A fight is brewing over whether to reverse rules meant to prevent another crisis-triggered exodus from a corner of the mutual-fund industry, the latest front in a broad push to undo postcrisis regulations.

UBS Names New Wealth-Management Chief

UBS appointed a new chief for its $1.1 trillion international wealth-management unit, a division that has been a key driver of the bank's earnings but faces competition from rivals including Credit Suisse.

Santander to Buy Deutsche Unit in Poland

Santander and its Polish subsidiary said that they have agreed to acquire Deutsche Bank's retail and private banking business in Poland for EUR305 million.

Initial Coin Offerings Surge Past $4 Billion-and Regulators Are Worried

Money raised from initial coin offerings has surged past $4 billion for the first time, even as regulators world-wide have escalated warnings about the new form of corporate funding.

Asia Banks Won't Waltz With the Fed on Rates Moves

Most central banks in Asia aren't expected to match the pace of the Federal Reserve's projection of three rate increases in 2018.

Behind Discount Brokers' Boom: Advisers, Not Day Traders

Charles Schwab and TD Ameritrade rake in client assets, catering to wealth managers and reinvigorating their businesses.

The Fed Isn't the Tax Cut's Enemy

Comments by Federal Reserve officials suggest they aren't standing in the way of any boost that the Republicans' $1.4 trillion tax cut delivers.

(END) Dow Jones Newswires

December 14, 2017 16:15 ET (21:15 GMT)