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Courtesy HSBC
HSBC names CFO Elhedery as its next CEO
The Lebanon-born banker was seen as an early front-runner to succeed Noel Quinn. Elhedery took a sabbatical in 2022, reportedly learning Mandarin, and was named CFO when he returned.
By Dan Ennis • July 17, 2024 -
Webster Bank taps ex-First Republic CFO as new finance chief
Neal Holland served as CFO of First Republic for roughly seven months before JPMorgan acquired it. He also was MUFG Union’s CFO just ahead of its purchase by U.S. Bank.
By Rajashree Chakravarty • July 17, 2024 -
Explore the Trendline➔
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TrendlineTop 5 stories from Banking Dive
Everything old is new again. One year after Citi’s reorganization, progress comes in “fits and starts.” Meanwhile, a contentious proposed rule is generating “voluminous” feedback after 14 months.
By Banking Dive staff -
Win McNamee / Staff via Getty Images
BofA projects net interest income improvement later this year
Second-quarter results for the Charlotte, North Carolina-based lender are yet another sign banks are getting bit by higher-for-longer interest rates.
By Caitlin Mullen • July 16, 2024 -
Permission granted by O’Malley Hansen Communications
Missouri’s First Bank leans on ‘Goldilocks size’
The family-owned bank, which also serves customers in Illinois and California, is planning to enter the Texas market this year.
By Caitlin Mullen • July 15, 2024 -
Courtesy of Bank of America
BofA tackles digital banking’s transaction pain points
The latest CashPro platform update is designed to better address transaction-related inquiries — one of the top reasons business customers call and email the bank.
By Maura Webber Sadovi • July 15, 2024 -
Drew Angerer / Staff via Getty Images
Wells Fargo cites customer movement as net interest income drops
The bank looked for a boost from higher fees in investment banking as it aims to reduce its reliance on net interest income.
By Caitlin Mullen • July 12, 2024 -
Mario Tama via Getty Images
ColumnDive Deposits: It was Citi’s week and, arguably, everybody won
The bank shook off fresh penalties by reporting skyrocketing revenue in its banking unit. It’s no wonder Citi granted $41 million to its banking chief. But a rival for that job may be glad he left.
By Dan Ennis • July 12, 2024 -
"Royal Bank of Canada's global headquarters at 200 Bay Street in Toronto, Canada" by Francisco Diez is licensed under CC BY 2.0
RBC shakes up C-suite, splits personal and commercial banking
A spate of moves appears to elevate Neil McLaughlin as a contender to succeed Dave McKay as CEO, but that transition may not be soon. The bank did not disclose the future of its still-interim CFO.
By Dan Ennis • July 11, 2024 -
Drew Angerer/Getty Images via Getty Images
Citi vet joins Blackstone’s credit unit
Tyler Dickson was seen as a contender to lead Citi’s banking unit. He left the bank after JPMorgan alum Viswas Raghavan was hired for the role.
By Gabrielle Saulsbery • July 10, 2024 -
Courtesy of Fifth Third
Fifth Third fined $20M over fake accounts, auto repossessions
The Cincinnati bank must compensate roughly 35,000 harmed consumers. The CFPB settlement resolves a March 2020 lawsuit that asserted the bank created fake accounts and used an aggressive “cross-sell” strategy.
By Rajashree Chakravarty • July 9, 2024 -
Spencer Platt / Staff via Getty Images
Citi urges court to dismiss ex-employee’s retaliation lawsuit
Kathleen Martin sued the bank, claiming she was fired for refusing to misreport data to the OCC. Citi claims she was fired for lacking “the requisite leadership and engagement skills” her role demands.
By Rajashree Chakravarty • July 1, 2024 -
Michael M. Santiago via Getty Images
JPMorgan, BofA, others eye $46M interest rate swaps settlement
Ten banks, including Goldman Sachs, Citi, Morgan Stanley and UBS, are seeking to end an eight-year case, brought by several pension funds, alleging market manipulation.
By Rajashree Chakravarty • June 28, 2024 -
mphillips007 via Getty Images
M&T’s ex-CFO is leaving the bank
Darren King is departing “for personal reasons” after 24 years, a spokesperson for the Buffalo, New York-based bank said.
By Rajashree Chakravarty • June 27, 2024 -
Justin Sullivan via Getty Images
GM subsidiary withdraws ILC charter application
The move comes just one business day after the FDIC approved its first ILC charter in four years. GM's application received approval from a Utah banking regulator June 14.
By Rajashree Chakravarty • June 25, 2024 -
pawel.gaul via Getty Images
Riverview Bank taps M&A expert as next CEO
Nicole Sherman has led 10 mergers in her career. She will replace acting head Dan Cox, who took over in September, when former CEO Kevin Lycklama was fired.
By Rajashree Chakravarty • June 24, 2024 -
Denis Tangney Jr. via Getty Images
Thrivent receives ILC charter
Following its approval for deposit insurance, the financial services company plans to convert Thrivent Federal Credit Union into online-only Thrivent Bank.
By Gabrielle Saulsbery • June 24, 2024 -
Mario Tama via Getty Images
Citi calls carbon emissions report from environmental group ‘misleading’
Stand.earth reported last week that Citi is a leading financier of the maritime liquefied natural gas industry, but the bank takes issue with the methodology used.
By Lamar Johnson • June 24, 2024 -
Spencer Platt / Staff via Getty Images
Bank of America zeroes in on innovation with business banking app
The team behind the bank’s CashPro app aims to stay a step ahead of rivals, in part by working closely with clients on improvements, said Jennifer Sanctis, the app’s product head.
By Caitlin Mullen • June 24, 2024 -
First Interstate Bank CEO to step down
In Kevin Riley's nine years as CEO, the Billings, Montana-based lender expanded to a 14-state footprint and $30 billion in assets, the bank said.
By Rajashree Chakravarty • June 20, 2024 -
Justin Sullivan / Staff via Getty Images
Goldman, Credit Suisse vet joins HSBC
Danielle Johnson took the helm as global head of HSBC's institutional client group June 3, the bank announced Thursday.
By Gabrielle Saulsbery • June 20, 2024 -
Mario Tama via Getty Images
Citi leans on services business amid turnaround
At an investor event Tuesday, bank executives said the services business, which helps about 19,000 clients around the world manage and move money, is at the heart of Citi’s strategy.
By Caitlin Mullen • June 18, 2024 -
Sean Pavone via Getty Images
Louisiana banks scrap merger plans
MC Bancshares and Heritage Nola called off the deal, announced last July, over “uncertainties in the regulatory environment,” one CEO said.
By Rajashree Chakravarty • June 18, 2024 -
Chris Hondros via Getty Images
UBS to set aside $900M to compensate Greensill investors
The Swiss bank inherited the issue when it acquired Credit Suisse. The amount accounts for 90% of what clients are owed from the 2021 collapse of the supply chain financing firm.
By Rajashree Chakravarty • June 17, 2024 -
Permission granted by Regions Bank
Bank execs weigh in on private credit threat
Direct lenders aren’t yet infringing where Regions Bank is active, “but it’s coming, I suspect,” CEO John Turner said. A JPMorgan executive said the market is big enough that both sides can succeed.
By Caitlin Mullen • June 17, 2024 -
Jeff Zelevansky via Getty Images
Provident Bank to close 22 branches in New Jersey
Provident, whose merger with in-state peer Lakeland Bancorp closed last month, has decided to shutter branches due to overlapping proximity, the lender announced recently.
By Rajashree Chakravarty • June 14, 2024
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