Commercial: Page 6
-
Alex Wong / Staff via Getty Images
Truist CEO on cost cuts: We needed ‘a shock to the system’
Bill Rogers detailed the "discipline," "intensity" and fresh mindset the bank has adopted eight months after launching an effort to "reorient" itself.
By Caitlin Mullen • May 31, 2024 -
Michael M. Santiago / Staff via Getty Images
Goldman alum Esposito lands at Citadel Securities
The 28-year Goldman vet will take on a new role as president at the market maker. He'll join in September and be responsible for growing client and partner relationships.
By Dan Ennis • May 31, 2024 -
Explore the Trendline➔
da-kuk via Getty Images
TrendlineArtificial intelligence
Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?
By Banking Dive staff -
Daniel Berehulak via Getty Images
UBS wealth-management split gives CEO race two front-runners
Iqbal Khan and Rob Karofsky will co-lead the global wealth unit in a shake-up that also will see Credit Suisse's last CEO leave the bank.
By Rajashree Chakravarty • May 30, 2024 -
Davis Turner/Stringer via Getty Images
Merrill Lynch to pay $20M to settle racial discrimination case
Four ex-Merrill advisers and more than 1,000 class-action participants allege Merrill has not afforded Black advisers the same opportunities as their White counterparts. Merrill denies these claims.
By Gabrielle Saulsbery • May 30, 2024 -
Win McNamee / Staff via Getty Images
Dimon: ‘No magic formula’ on CEO, chairman moves
The JPMorgan CEO largely pinned his future timeline on the board Wednesday during a conference appearance, while Wells Fargo CEO Charlie Scharf detailed his investment-banking growth strategy.
By Caitlin Mullen • May 29, 2024 -
Chris Hondros via Getty Images
UBS looks internally for Ermotti’s successor: report
The Swiss banking giant plans to disclose the names of three potential CEO successors as early as next year, the Financial Times reported Monday. Sergio Ermotti expects to step down once the UBS-Credit Suisse integration is complete.
By Rajashree Chakravarty • May 28, 2024 -
Spencer Platt via Getty Images
JPMorgan fined by CFTC over surveillance gap probe
JPMorgan will pay $200 million in a civil monetary penalty, with up to $100 million credited for amounts paid to the OCC and the Fed in March in parallel actions.
By Rajashree Chakravarty • May 24, 2024 -
Mario Tama via Getty Images
Gorman to step down as Morgan Stanley board chair
The ex-CEO's departure at year end could be seen as a vote of confidence in his successor, Ted Pick. The bank held its annual general meeting Thursday.
By Dan Ennis • May 23, 2024 -
Joe Raedle / Staff via Getty Images
TD CEO: Spending on AML remediation could extend into 2025
TD’s Bharat Masrani declined to say whether the Canadian lender expects closure this year on investigations into the bank’s AML program, citing ongoing conversations with regulators and the DOJ.
By Caitlin Mullen • May 23, 2024 -
Permission granted by Varo Bank
Varo Bank faces lawsuit over March data breach
The lawsuit accuses the online bank of failing to protect personal information stored within its network, including customer phone numbers and the last four digits of Social Security numbers.
By Rajashree Chakravarty • May 22, 2024 -
SouthState to acquire Independent Bank in $2B deal
The transaction, expected to close in the first quarter of 2025, is set to expand SouthState’s footprint in Texas and Colorado.
By Rajashree Chakravarty • May 21, 2024 -
Spencer Platt / Staff via Getty Images
Citi ATM fee waivers discriminate by race, lawsuit says
The plaintiffs allege Citi unlawfully granted fee waivers to people using out-of-network ATMs only if their accounts were held at nonwhite-owned banks, according to the suit filed Friday.
By Rajashree Chakravarty • May 20, 2024 -
Justin Sullivan via Getty Images
Citi ex-treasurer Verdeschi in line for Schwab’s CFO role
The move marks a landing spot for one of a number of longtime Citi veterans who've stepped aside during the bank's reorganization.
By Dan Ennis • May 17, 2024 -
Permission granted by Pima Federal Credit Union
Arizona credit union to acquire bank
Pima's acquisition of Republic Bank of Arizona, expected to close in the second half of the year, would give the Tucson-based credit union a foothold in the Phoenix area.
By Rajashree Chakravarty • May 17, 2024 -
Spencer Platt / Staff via Getty Images
NYCB’s COO resigns
Julie-Ann Signorille-Browne led the bank’s integration with Flagstar and, later, the integration of assets and liabilities NYCB bought from the failed Signature Bank.
By Dan Ennis • May 17, 2024 -
Zhanna Hapanovich
Alerus Financial to buy Minnesota bank in $116M deal
The combined company will have roughly $5.5 billion in assets after the transaction, which is expected to close in the fourth quarter.
By Rajashree Chakravarty • May 16, 2024 -
Joe Raedle / Staff via Getty Images
Fed, OCC to hold meeting July 19 on Capital One-Discover deal
At $35.3 billion, the acquisition is well above the size that typically sees a public hearing by regulators. Agencies are eyeing tougher merger scrutiny, but that idea has received partisan backlash.
By Lynne Marek • May 15, 2024 -
Spencer Platt / Staff via Getty Images
NYCB to sell $5B in mortgage loans to JPMorgan Chase
The transaction is set to finalize in the third quarter. NYCB has pledged to cut its commercial real estate exposure to about $30 billion as it revamps its balance sheet.
By Dan Ennis • May 15, 2024 -
Anna Moneymaker via Getty Images
CFG Bank launches accounts to boost Key Bridge relief efforts
A money market account through the bank is donating 0.05% of accrued interest to a nonprofit fund offering financial support for families affected by the bridge collapse.
By Gabrielle Saulsbery • May 14, 2024 -
Spencer Platt via Getty Images
JPMorgan objects to proxy adviser’s push for CEO, chair split
The bank said ISS’s recommendation “fails to match the empirical evidence of the last 18 years of leadership” by Jamie Dimon, who occupies both roles at JPMorgan.
By Rajashree Chakravarty • May 14, 2024 -
Column
Dive Deposits: May just might be succession strategy month
Banco Popular became the second bank in a week to name a president — a steppingstone to CEO if not a long-term plan. Look back, and JPMorgan and Morgan Stanley each launched multiyear races in May.
By Dan Ennis • May 14, 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 restructures its investment-banking unit
Putting a U.S.-based executive in charge of global investment banking may reflect how crucial the Canadian bank's "second home" is to its growth strategy.
By Dan Ennis • May 13, 2024 -
Chris Hondros via Getty Images
JPMorgan lures $28B adviser team from Merrill Lynch
The Gray-Polverini team that joined JPMorgan’s wealth management unit in Los Angeles generated nearly $10 million in annual revenue.
By Rajashree Chakravarty • May 13, 2024 -
Justin Sullivan / Staff via Getty Images
Pot banking bill advocates push for action this year
Proponents hope the SAFER Banking bill can be attached to a larger legislative vehicle, as stand-alone passage in the Senate seems increasingly unlikely.
By Caitlin Mullen • May 13, 2024 -
Carlos Alvarez via Getty Images
ColumnDive Deposits: Are we in a parallel 2020? Ask a Spanish bank
FDIC culture woes. The rise of women execs. Regulators' rush to issue final rules before an election. 2020 had all of that, too — along with a failed BBVA bid for Sabadell. But in 2024, it turned hostile.
By Dan Ennis • May 9, 2024
Previous
