Citi banker, accused of berating and intimidating employees, leaves: report

Edward Ruff was placed on leave in January as the bank investigated allegations he intimidated one co-worker and shouted insults at members of his team because they were late to a call.

By Dan Ennis • May 2, 2024

Wells Fargo shareholders reject union-busting audit

Workers at a handful of the bank’s 4,000 branches have made a splash in recent months by voting to unionize.

By Gabrielle Saulsbery • May 1, 2024

Explore the Trendline➔

M&A

President Donald Trump’s reelection was predicted to yield loosened regulation. But tariff volatility and economic uncertainty has thrown a wrench into an expected boom in mergers and acquisitions.

By Banking Dive staff

NYCB posts $335M loss, but shares jump on turnaround plan

CEO Joseph Otting said the lender has “identified an opportunity” to sell $5 billion in assets but declined to share details until a deal is final.

By Caitlin Mullen • May 1, 2024

Morgan Stanley’s $20M bonuses draw proxy adviser’s fire

Glass Lewis recommended shareholders reject a pay package that gave one-time $20 million awards to the bank's newly minted CEO and his two fellow candidates to succeed James Gorman.

By Dan Ennis • April 30, 2024

HSBC CEO to step down

“After an intense five years, it is now the right time for me to get a better balance between my personal and business life,” Noel Quinn said Tuesday. HSBC will consider internal and external candidates for the role, it said.

By Rajashree Chakravarty • April 30, 2024

NYCB postpones annual meeting by 2 weeks

The bank, at the time of the delay, had yet to say when it would report first-quarter results. Those are coming Wednesday.

By Caitlin Mullen • April 30, 2024

State Street, sculptor settle Fearless Girl lawsuit

State Street and Kristen Visbal reached a settlement over the weekend following mediation. The settlement averted a trial that was set to start between the two parties this week.

By Gabrielle Saulsbery • April 30, 2024

UMB to buy Heartland Financial for $2B

The deal will mark UMB’s largest acquisition in its 111-year history, increasing total assets by more than 40% to $64.5 billion.

By Gabrielle Saulsbery • April 29, 2024

Deutsche Bank plans to set aside $1.4B over Postbank case

A Cologne court intends, at least partially, to favor Postbank shareholders over claims that Deutsche low-balled them in 2010 takeover offers, Deutsche disclosed Friday.

By Rajashree Chakravarty • April 29, 2024

Republic First is seized, assets sold to Fulton Bank

The first bank failure of 2024 punctuates the discord that has brewed at Republic First for more than two years. Fulton, meanwhile, will double its Philadelphia presence through the deal.

By Dan Ennis • April 26, 2024

Russian court orders seizure of nearly $440M in JPMorgan funds

The ongoing legal battle between state-owned VTB Bank and the largest U.S. bank revolves around funds frozen in the wake of Russia’s invasion of Ukraine and subsequent sanctions.

By Rajashree Chakravarty • April 25, 2024

First Internet Bank CEO talks M&A, BaaS work

After its acquisition of First Century Bank fell through in 2022, First Internet built its own banking-as-a-service team, CEO David Becker said. It now counts startup Ramp as a client.

By Caitlin Mullen • April 24, 2024

Dive Deposits: Moynihan, Pick are loosening up earnings calls, with words

Seven comments from executives and officials show varying degrees of unexpected boldness during banks’ most straight-laced period.

By Dan Ennis • April 24, 2024

Citi failed to protect managing director from sexual harassment, lawsuit claims

Ardith Lindsey filed additional details Monday in her lawsuit against the bank regarding a supervisor’s threats against her and her family.

By Rajashree Chakravarty • April 23, 2024

For Capital One and Discover, the 4th time may have been the charm

Discover rebuffed three Capital One pitches before agreeing to a deal, and talks halted for seven weeks, an SEC filing indicates.

By Dan Ennis • April 22, 2024

Truist CIO, chief audit officer leave bank

The bank, meanwhile, has added new leaders in its payments business and logged $70 million in restructuring charges in the first quarter, CEO Bill Rogers said Monday.

By Caitlin Mullen • April 22, 2024

TD faces investor angst over AML probe, CEO succession

CEO Bharat Masrani said the bank has made strategic hires to improve its AML compliance and reassured investors of TD's "robust" bench of leaders.

By Rajashree Chakravarty • April 19, 2024

JPMorgan, Russia’s VTB Bank sue each other

VTB sued JPMorgan in Russia to regain access to assets frozen due to sanctions violations. JPMorgan countersued, saying VTB breached a 2008 agreement to handle any issues in New York.

By Gabrielle Saulsbery • April 19, 2024

UBS plans fresh cuts amid Credit Suisse integration: report

The Swiss banking giant plans to trim headcount in banking, markets and wealth management, Bloomberg reported. The lender has said it aims to save around $6 billion in staff costs in the coming years.

By Rajashree Chakravarty • April 18, 2024

Senators probe Bank of America on Apollo co-founder’s payments to Epstein

The Senate Finance Committee’s chairman asked the bank about the extent of due diligence it conducted before processing $158 million in fees Leon Black paid to Jeffrey Epstein using his BofA accounts, The New York Times reported.

By Rajashree Chakravarty • April 16, 2024

Wells Fargo CEO Scharf details asset cap limitations

When the cap is removed, the CEO anticipates Wells can further invest in its consumer or wealth businesses, build out its product offerings and be more aggressive on lending and deposits.

By Caitlin Mullen • April 16, 2024

JPMorgan’s Dimon follows through on million-share sale

The CEO offloaded 178,222 shares of the bank, JPMorgan disclosed Monday, after selling 821,778 in February. The move underscores the ticking timeline toward Dimon's eventual handoff of power.

By Dan Ennis • April 16, 2024

Wintrust to buy Michigan’s Macatawa Bank in $510M deal

The transaction, set to close in the second half of this year, would push the Illinois bank holding company's branch total to near 200 and its assets to the brink of $60 billion. 

By Dan Ennis • April 16, 2024

Customers Bancorp boots CFO for ‘cause’

Carla Leibold was terminated Wednesday over a violation of company policy, a characterization she reportedly disputes. Philip Watkins was promoted to take her place, the company said.

By Rajashree Chakravarty • April 15, 2024

BofA evolves AI-powered assistant toward deeper digital integration

Six years into the Erica era, customers are taking advantage of the tool's insights as often as they're asking questions of it, said Nikki Katz, the bank's head of digital.

By Caitlin Mullen • April 15, 2024