News Highlights: Top Financial Services News of the Day - Thursday at 12 AM ET

LGT Capital Collects $7 Billion for Private-Markets Secondary Deals 
 

Investment manager LGT Capital Partners has raised its largest pool yet to acquire stakes in private funds, a strategy benefiting from the chill that sharply higher interest rates cast on deals involving private equity and venture capital.

 
Bank of America customers report outage, with some seeing $0 balances in their accounts 
 

An outage at Bank of America left some of the bank's customers unable to access their accounts on Wednesday, while others saw what they said were erroneous balances of $0, according to a flood of reports on social media.

 
JPMorgan Plans to Open Around 100 New Branches in Low-Income Areas 
 

The bank will expand branches in rural and urban neighborhoods, offering an alternative to check cashing and payday lending.

 
SEC Enforcement Director Who Pushed for Big Fines Steps Down 
 

Gurbir Grewal took a tough stance on the fast-growing cryptocurrency industry and pushed for big fines against Wall Street firms.

 
AI Will Drive Broad Deflation, Silicon Valley Pioneer Vinod Khosla Says 
 

But as the price of expertise falls toward zero, a new age of abundance can begin, Khosla says-if people let it.

 
Ontario Pension Weighs Wider 'Risk-Return Spectrum' in Data Center Bets 
 

The teachers' pension system sees opportunities to invest directly in digital-infrastructure businesses at different stages of development.

 
Charles Schwab Names President Rick Wurster as Next CEO 
 

Walt Bettinger, who oversaw the company's rise to a personal-finance juggernaut, will retire after a 16-year tenure.

 
LPL Financial Terminates CEO Dan Arnold 
 

The board of LPL Financial Holdings terminated Dan Arnold as the retail investment advisory firm's top executive for having violated the company's commitment to a respectful workplace.

 
Monarch Alternative Capital Closes $4.7 Billion Credit Fund 
 

Monarch Alternative Capital has raised more than $4.7 billion for its latest fund, which the distressed-debt investor says will capitalize on opportunities presented by elevated interest rates and economic uncertainty.

 
Financial Services Roundup: Market Talk 
 

Read about regulators' request of action from banks in the Southeast to mitigate impacts of Hurricane Helene, Canadian economy and more in the latest Market Talks covering the Financial Services sector.

(END) Dow Jones Newswires

October 03, 2024 00:15 ET (04:15 GMT)

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