NEW YORK, July 09, 2025 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Somerset Trust Holding Company (OTCQX: SOME) (the "Company"), the holding company of Somerset Trust Company, has qualified to trade on the OTCQX® Best Market. Somerset Trust Holding Company upgraded to OTCQX from the Pink® market. Somerset Trust Holding Company begins trading today on OTCQX under the symbol "SOME." U.S. investor ...

Group 1 - HSBC UK has reduced its financial advice fee for premier customers to 1% from 2.75%, with a minimum charge of £960, as part of a promotional discount until the end of the year [1][9] - The rationale behind this move is to enhance offerings for "mass affluent" clients, coinciding with the relaunch of its Premier account in February 2025 [2][9] - The minimum asset requirement for accessing the premier investment management service has been lowered from £250,000 to £100,000, and a switching incentive has been introduced for new premier customers [3][9] Group 2 - HSBC UK Private Banking has adopted the Addepar platform to improve services for ultra and high net worth clients [4] - In mainland China, HSBC is expanding its wealth business through lifestyle-focused centers and acquisitions, including Citigroup's retail wealth arm [4] - Over the past six months, HSBC shares have increased by 19.7%, which is lower than the industry's growth of 24.6% [5]

Summary of Commerce Bancshares (CBSH) M&A Conference Call Company and Industry - **Company**: Commerce Bancshares Inc. - **Acquired Company**: Finemark Holdings Inc. (holding company of Finemark National Bank and Trust) - **Industry**: Banking and Wealth Management Core Points and Arguments 1. **Acquisition Announcement**: Commerce Bancshares announced the acquisition of Finemark Holdings, a private bank with nearly $8 billion in assets under management and $4 billion in banking assets, aiming to expand its presence in high-growth markets like Florida, Arizona, and South Carolina [5][6][10]. 2. **Wealth Management Focus**: The acquisition aligns with Commerce's strategy to enhance its wealth management platform, as Finemark has a strong non-interest revenue model, with 43% of its total revenue coming from non-interest sources [8][9]. 3. **Credit Quality**: Finemark has a strong credit history with only 13 basis points of cumulative net charge-offs over the last ten years, indicating a conservative approach to lending [9]. 4. **Combined Assets**: Post-acquisition, the combined entities will manage over $84 billion in total wealth assets, making it the sixteenth largest bank-managed trust company in the U.S. [10]. 5. **Leadership Transition**: Joseph Caddy, Chairman and CEO of Finemark, will become Chairman of Commerce Trust, ensuring continuity and leveraging his leadership experience [10]. 6. **Financial Metrics**: The deal is structured as a 100% stock transaction valued at approximately $585 million, with an EPS accretion of 6% expected once cost savings are realized [12][13]. 7. **Cost Savings and Integration**: Expected pre-tax cost savings of $15 million represent 15% of Finemark's non-interest expenses, with a focus on low integration risk due to similar business models [14][15]. 8. **Future Growth Potential**: The acquisition is expected to enhance Commerce's ability to drive sustainable growth, particularly in wealth management and private banking [18]. Additional Important Content 1. **Long-term Relationship**: The relationship with Finemark has been built over five years, indicating a strategic and measured approach to the acquisition [23][24]. 2. **Market Expansion**: The acquisition allows Commerce to solidify its presence in Florida and expand into Arizona and South Carolina, which are identified as attractive growth markets [8][51]. 3. **Asset Sensitivity**: The loan portfolio composition is expected to be similar to Commerce's, with asset repricing anticipated to enhance margins [25][26]. 4. **M&A Strategy**: While this is the first bank deal since 2013, Commerce maintains that M&A is part of its long-term strategy, focusing on commercial and wealth-focused banks [30][32]. 5. **Dividend and Buyback Plans**: Commerce plans to maintain its dividend policy and may resume stock buybacks in the second half of the year, despite the acquisition [54][55]. This summary encapsulates the key points from the conference call regarding the acquisition of Finemark Holdings by Commerce Bancshares, highlighting the strategic rationale, financial implications, and future growth opportunities.

Core Insights - Colliers has launched a refreshed sustainability strategy named "Built to Last," which aligns with current environmental, social, and governance challenges and opportunities [1][3] - The 2024 Global Sustainability Report highlights significant achievements, including a 27.6% reduction in Scope 1 and 2 emissions per square foot from the 2021 baseline [6] - Tonya Lagrasta has been appointed as the Global Head of Sustainability to lead the implementation of the new strategy [2][3] Sustainability Achievements - Achieved a 27.6% reduction in Scope 1 and 2 emissions per square foot from the 2021 baseline [6] - Earned WELL Health-Safety Ratings in 87.4% of Colliers offices ≥ 2,500 sq. ft., an increase from 35% in 2022 [6] - Expanded the electric vehicle fleet to over 170, representing a fivefold increase in two years [6] - Reached 88% participation in the global employee engagement survey, with scores exceeding external benchmarks [6] - Achieved 68% of the Colliers Gives volunteering goal [6] Company Overview - Colliers is a global diversified professional services and investment management company with nearly $5.0 billion in annual revenues and over $100 billion in assets under management [4] - The company operates through three platforms: Real Estate Services, Engineering, and Investment Management, and has a team of 23,000 professionals [4] - Colliers has consistently delivered approximately 20% compound annual returns for shareholders over the past 30 years [4]

Core Insights - LPL Financial LLC has welcomed Loomis Wealth Management, which manages approximately $180 million in advisory, brokerage, and retirement plan assets, to its platforms [1][6][8] Group 1: Company Overview - Loomis Wealth Management was founded in 2010 by Bill and Curt Loomis, focusing on comprehensive, fiduciary-driven wealth management [2] - The team has a combined six decades of experience in the financial industry and is known for a holistic approach to wealth management in the Shenandoah Valley [2] - Justin K. Hitt joined the team in 2023, bringing a decade of educational experience before transitioning to finance [2] Group 2: Client Engagement and Services - The Loomis Wealth Management team emphasizes understanding clients' lifestyles, families, and financial aspirations to tailor investment portfolios [3] - They offer a full range of services including investment management, financial planning, and risk management [2][3] Group 3: Partnership with LPL Financial - The team sought to join LPL for greater autonomy, improved technology, and an enhanced client experience [3][4] - LPL Financial is recognized for its investment in resources that support advisors in delivering superior client experiences [4] - LPL supports nearly 29,000 financial advisors and manages approximately $1.8 trillion in brokerage and advisory assets [6]

Market Overview - Wall Street's seasonal adages have not held true this year, with April ending on a mixed note and May showing impressive gains in U.S. stock markets [1][2] - All three major indexes finished May in the green, with the Dow rising 3.9%, the S&P 500 climbing 6.2%, and the Nasdaq Composite jumping 9.6%, marking their best monthly performances since November 2023 [2] Financial Services Sector Performance - The Financial Services sector was one of May's top performers, up 4.5%, with notable stocks including Coinbase Global, Northern Trust, BNY Mellon, Franklin Resources, and Bank of America [3][9] - Coinbase is positioned to benefit from heightened crypto market volatility and rising asset prices, with 83% of its total revenues coming from the U.S. market [7][10] - Northern Trust is leveraging organic expansion efforts and has launched Family Office Solutions targeting ultra-high-net-worth clients, which is expected to enhance its Wealth Management segment [12][13] - BNY Mellon is focusing on international growth initiatives and has seen a five-year CAGR of 6.2% in net interest income, with expectations for continued improvement [18][19] - Franklin has grown through acquisitions and partnerships, enhancing its presence in alternative investments and multi-asset solutions [22][23] - Bank of America is expected to benefit from higher interest rates, with a projected 6-7% rise in net interest income for 2025, supported by aggressive branch expansion [26][28] Company-Specific Insights - Coinbase is investing in infrastructure to expand crypto's practical use, including a low-cost Layer 2 scaling solution [8] - Northern Trust is focused on disciplined headcount management and process automation to improve productivity and meet financial targets, achieving a return on equity of 13% in Q1 2025 [14][15] - BNY Mellon is facing challenges with rising expenses and volatility in fee income, which constitutes almost 70% of total revenues [20] - Franklin's diversification into alternative asset classes is expected to drive assets under management growth, although market fluctuations pose risks to investment management fees [24][25] - Bank of America is enhancing its digital offerings and cross-selling products through initiatives like the Zelle money transfer system and the digital assistant Erica [29]

Core Insights - Victory Capital Holdings (VCTR) reported revenue of $219.6 million for Q1 2025, a year-over-year increase of 1.7%, but fell short of the Zacks Consensus Estimate by 2.87% [1] - The company's EPS for the same period was $1.36, compared to $1.25 a year ago, with an EPS surprise of -1.45% against the consensus estimate of $1.38 [1] Financial Performance - The total assets under management (AUM) were reported at $167.47 billion, significantly below the average estimate of $197.22 billion from four analysts [4] - The breakdown of AUM includes: - Global/Non-U.S. Equity: $18.33 billion, matching the average estimate [4] - Solutions: $63.38 billion, matching the average estimate [4] - U.S. Large Cap Equity: $13.10 billion, matching the average estimate [4] - U.S. Mid Cap Equity: $28.96 billion, matching the average estimate [4] - U.S. Small Cap Equity: $13.18 billion, matching the average estimate [4] - Alternative Investments: $2.95 billion, matching the average estimate [4] - Money Market/Short-term: $3.40 billion, matching the average estimate [4] - Total net client cash flows were reported at -$1.25 billion, worse than the average estimate of -$552.44 million [4] - Revenue from investment management fees was $173.30 million, below the average estimate of $178.26 million, but showed a year-over-year increase of 2.1% [4] - Revenue from fund administration and distribution fees was $46.30 million, also below the average estimate of $48.19 million, with a year-over-year increase of 0.5% [4] Market Performance - Victory Capital's shares returned +1.2% over the past month, compared to the Zacks S&P 500 composite's +11.3% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

TORONTO, May 02, 2025 (GLOBE NEWSWIRE) -- Mount Logan Capital Inc. (CBOE: MLC) (“Mount Logan” or the “Company”) will release its financial results for the first quarter ended March 31, 2025 after market close on Thursday, May 15, 2025. The Company will host a conference call on Friday, May 16, 2025, at 11:00 a.m. Eastern Time to discuss these results. Shareholders, prospective shareholders, and analysts are welcome to listen to the conference call. To join the call, please use the dial-in information below. ...

Franklin Resources Inc. (BEN) reported second-quarter fiscal 2025 (ended March 31) adjusted earnings of 47 cents per share, which matched the Zacks Consensus Estimate. However, the bottom line compared unfavorably with 56 cents reported in the year-ago quarter.BEN’s results were affected by lower revenues and assets under management (AUM) balance. Yet, lower expenses supported the results to some extent. In light of this, Franklin’s shares rose 1.1% in Friday’s pre-market trading session.Net income (GAAP ba ...

Franklin Resources (BEN) reported $2.11 billion in revenue for the quarter ended March 2025, representing a year-over-year decline of 1.9%. EPS of $0.47 for the same period compares to $0.56 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.98 billion, representing a surprise of +6.66%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.47.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how ...