LaSalle St., a group of wealth management firms based in Elmhurst, Illinois, is partnering with Live Oak Bank to accelerate its growth objectives.

Switzerland’s largest bank reduced some overlapping roles in the past months, and further cuts are expected through November, said people with knowledge of the matter who asked not to be identified because the plans are private. 

The decision stems partly from Swiss regulatory changes that have caused the number of independent wealth managers to dwindle, said people who asked not to be identified because the matter is private.

Back in 2020, the bank beefed up its family office business by combining advisory, family governance, legacy planning, philanthropy, investment and deal-making services for ultra-wealthy clients.

After PacWest Bancorp is bought by Banc of California, the combined bank will operate under the purchaser’s name. That’s led some to question: Why is bank spelled with a “c”?

Sanctioned Russian tycoon Vladimir Potanin is buying a stake in a digital bank for businesses and expanding his lending empire with the third such purchase since Russia invaded Ukraine.