Weekly Global News Wrap: Bank of America's senior bankers receive pay raise; UBS buys wealth mgmt provider Wealthfront
And Deutsche Bank said it’ll undertake a $339m share buyback.
Bank of America is raising the base salary for senior bankers, according to sources, in an attempt to retain top talent.
The bank already said that 95% of its employees will get special compensation awards with a total value of nearly $1b.
Swiss bank UBS is acquiring US-focused automated wealth management provider Wealthfront in an all-cash deal the two companies said was worth $1.4b.
Wealthfront reportedly has more than $27b in assets under management and more than 470,000 clients in the US.
The deal is set to close in the second half of 2022.
Deutsche Bank announced that it would undertake a $339 (€300m) share buyback and pay a dividend for 2021.