Commercial: Page 8
-
Chris Hondros via Getty Images
UBS eyes US growth with wealth business
As the Credit Suisse-UBS deal reaches its one-year mark, UBS seeks to expand its wealth business in the U.S. through M&A activities in the next three to four years, Chairman Colm Kelleher said Sunday.
By Rajashree Chakravarty • March 18, 2024 -
Michael M. Santiago via Getty Images
Goldman’s Cohen heads for exit as GreenSky deal closes
GreenSky is now owned by an investor group led by Sixth Street. Stephanie Cohen, Goldman’s global head of platform solutions, is leaving the bank for IT firm Cloudflare.
By Gabrielle Saulsbery • March 18, 2024 -
Explore the Trendlineâž”
Permission granted by O’Malley Hansen Communications
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 -
Permission granted by Huntington Bank
Huntington hires JPMorgan vet as next HR chief
Sarah Pohmer, who’s spent nearly 25 years at JPMorgan, has been named the next human resources chief at the Columbus, Ohio-based bank.
By Caitlin Mullen • March 18, 2024 -
Michael M. Santiago / Staff via Getty Images
JPMorgan Chase fined $348.2M over gaps in trade data reporting
The bank “failed to surveil billions of instances of trading activity on at least 30 global trading venues,” the OCC alleged. “These gaps and deficiencies … constitute unsafe or unsound banking practices.”
By Dan Ennis • March 14, 2024 -
Leon Neal via Getty Images
UK’s Metro Bank eyes £30M more in cost savings by year’s end
The bank expects to lay off additional employees — it has cut 1,000 since October — and it will abandon its seven-day-a-week branch model.
By Dan Ennis • March 14, 2024 -
R.M. Nunes via Getty Images
TD cuts CEO Masrani’s pay by $741K over botched deal, AML woes
Four of the five big-bank CEOs in Canada saw their compensation drop in 2023 — a reverse of the pay trend in the U.S., where only Bank of America's Brian Moynihan was paid less than in 2022.
By Dan Ennis • March 13, 2024 -
Permission granted by Starling Bank
Starling taps HSBC alum as next CEO
The digital bank's founder, Anne Boden, said she believes Raman Bhatia can move Starling “into its next phase of growth while cherishing the culture and values” her team had worked hard to create.
By Gabrielle Saulsbery • March 13, 2024 -
Michael M. Santiago / Staff via Getty Images
Goldman aims to grow its private credit portfolio to $300B: report
The bank’s footprint there already far exceeds its rivals. Goldman, in a year, also nearly cut in half a $30 billion cache of legacy investments.
By Dan Ennis • March 12, 2024 -
Mario Tama / Staff via Getty Images
BNY Mellon digital chief to depart in April
The bank did not identify Roman Regelman’s successor in its securities filing. His departure is set for April 15.
By Gabrielle Saulsbery • March 11, 2024 -
Michael M. Santiago / Staff via Getty Images
JPMorgan to launch biometric checkout next year
The bank’s payments unit plans to engage in more pilots this year before rolling out the checkout service broadly next year, said Prashant Sharma, JPMorgan’s executive director of biometrics and identity solutions.
By Caitlin Mullen • March 11, 2024 -
Spencer Platt / Staff via Getty Images
Otting could make $5.75M in first year as NYCB CEO
Alessandro DiNello will receive a base salary of $500,000 per month for his work as NYCB's executive chair, the bank said in a filing. He'll return to a nonexecutive role April 1.
By Dan Ennis • March 11, 2024 -
Kate Tornone/Banking Dive
Regional bank execs push back on CRE risk fears
The banking sector relearns every 15 years not to overly concentrate its balance sheet in one area, Fifth Third CEO Tim Spence said. Meanwhile, Citizens Bank expects its CRE loan losses to peak at the end of this year.
By Suman Bhattacharyya • March 11, 2024 -
dibrova via Getty Images
Huntington dives deeper into Texas
Local banking industry veteran Clint Bryant will lead Huntington’s Texas commercial charge, starting with Dallas.
By Gabrielle Saulsbery • March 8, 2024 -
Courtesy of U.S. Bank
OCC clears U.S. Bank from MUFG Union consent order
The enforcement action, for failing to meet federal IT security guidelines, was issued just one day before U.S. Bank announced its $8 billion acquisition of MUFG Union.
By Rajashree Chakravarty • March 8, 2024 -
Justin Sullivan via Getty Images
Deep DiveA year after SVB, what’s improved and what needs work?
Banking Dive looks at six factors — from upcoming regulations to commercial real estate — to see how the landscape has changed between the crises of 2023 and 2024.
By Dan Ennis • March 8, 2024 -
Spencer Platt / Staff via Getty Images
NYCB names ex-OCC chief Otting as CEO
Former Treasury Secretary Steven Mnuchin will take a seat on the bank's board after his Liberty Strategic Capital and other investors infused NYCB with $1.05 billion.
By Dan Ennis • March 7, 2024 -
Mario Tama via Getty Images
Citi hires BofA vet Plaus to lead North America private bank
Don Plaus had announced his retirement from BofA's Merrill Lynch a year ago but had to delay his plans when Andy Sieg announced he was leaving. Plaus' hire reunites the two at Citi.
By Rajashree Chakravarty • March 7, 2024 -
Getty Images via Getty Images
Powell predicts CRE woes will hit smaller banks hardest
The Federal Reserve, bankers and commercial real estate executives have warned of turbulence as property owners struggle to refinance debt at higher rates.
By Jim Tyson • March 7, 2024 -
Permission granted by Synctera
Q&AHow banks, fintechs can navigate regulatory challenges in BaaS space
Banks have a responsibility to treat their customers fairly because they deal with people’s money, said the CEO of Synctera, a partner of Lineage Bank, which was recently hit with an FDIC consent order over BaaS.
By Rajashree Chakravarty • March 6, 2024 -
Courtesy of U.S. Bank
U.S. Bank mandates 3 days a week in the office
This marks a shift in policy from optional, a year and a half after CEO Andy Cecere told employees their presence was preferred.
By Gabrielle Saulsbery • March 6, 2024 -
Permission granted by TD Bank
ColumnDive Deposits: TD gives its AML woes long-haul messaging
The bank's First Horizon stumble is as woven into its fabric as the Revlon error is for Citi, or the fake-accounts scandal is for Wells Fargo, if one looks at TD's responses to analysts.
By Dan Ennis • March 6, 2024 -
Truist taps Citi muni veterans to strengthen its team
The move comes as Citi prepares to leave the municipal bond market by the end of this month to focus its attention on increasing profit amid its company-wide reorganization.
By Rajashree Chakravarty • March 4, 2024 -
Pablo Blazquez Dominguez via Getty Images
Santander cuts roughly 320 US jobs: reports
Many of the layoffs are centered on the bank’s retail operations, ahead of the expected launch of a fully digital platform in the U.S. this summer.
By Dan Ennis • March 4, 2024 -
Mark Wilson via Getty Images
West Virginia warns Citi, TD, others over fossil-fuel stances
BMO, HSBC, Fifth Third and Northern Trust also received notices that the state would add them to a restricted financial institution list over alleged "boycotts."
By Lamar Johnson • March 1, 2024 -
Mark Makela via Getty Images
Investors back out of $35M deal with Republic First
The bank failed to meet the terms of their agreement by the deadline, Norcross-Braca Group said. The bank said it remains adequately capitalized.
By Gabrielle Saulsbery • March 1, 2024
Previous
