Morgan Stanley M&A chief to jump back to big law

Rob Kindler, a 17-year veteran of the bank who played crucial roles in the E*Trade and Eaton Vance acquisitions and the sale of a minority stake of Morgan Stanley to MUFG, will join law firm Paul Weiss after Labor Day.

By Dan Ennis • June 7, 2023

FTX’s legal team has its hands full

The bankrupt crypto exchange is fighting court battles on multiple fronts, and former CEO Sam Bankman-Fried’s attorneys say the U.S. government is overdue to supply evidence in its case against him.

By Gabrielle Saulsbery • June 7, 2023

Explore the Trendline➔

Customer service

Banks and fintechs have a choice when looking to grow: Identify a new customer segment and expand services, or drill down and better serve the clients they have.

By Banking Dive staff

Central bank role would make ex-First Republic exec’s career path make sense

Once the heir apparent at First Republic, Hafize Gaye Erkan stunned the bank by hopping to a client — then leaving that job three months later. But she didn't have to bow to JPMorgan.

By Dan Ennis • June 6, 2023

UBS could close Credit Suisse deal next week

The Swiss bank may delay its second-quarter results until the end of August to give investors a clearer update on its plans for Credit Suisse’s domestic business, the Financial Times reported.

By Rajashree Chakravarty • June 5, 2023

Prioritizing governance, risk and compliance to build a lasting impact in banking

Only 53% of banks report being nimble enough to adopt risk-related improvements, meaning many banks will miss the opportunity to grow and win. 

June 5, 2023

Fed issues consent order to Silvergate to ensure wind-down

Silvergate must submit a self-liquidation and wind-down plan within 10 days to the central bank and California’s Department of Financial Protection and Innovation.

By Gabrielle Saulsbery • June 2, 2023

TD’s Cowen shuts down crypto unit

Cowen had launched digital asset services in March 2022. An email seen by Bloomberg indicated May 31 was “the last day” for the unit and its 10 employees.

By Gabrielle Saulsbery • June 1, 2023

Goldman Sachs plans third round of job cuts

The reduction, said to affect fewer than 250 employees, could include partners and managing directors, a source told Reuters. It follows September and January cuts, and comes amid a stubborn dealmaking slump.

By Dan Ennis • May 31, 2023

Asia’s pushing in. Europe’s pulling out. Mizuho and Citi show it’s not that simple

Japanese banks are doubling down on M&A, as U.S. and European banks forgo retail for wealth.

By Dan Ennis • May 30, 2023

Dimon deposed in Epstein suits

JPMorgan Chase's CEO said he wasn't involved in keeping the late convicted sex offender as a client for several years.

By Gabrielle Saulsbery • May 30, 2023

JPMorgan axing 1,000 First Republic employees

The nation's largest bank is bringing 85% of First Republic employees over with its purchase of the failed bank, leaving about 1,000 without offers.

By Gabrielle Saulsbery • May 26, 2023

NYC regulator halts city deposits at Capital One, KeyBank

New York City Comptroller Brad Lander also voted against allowing Wells Fargo, PNC and International Finance Bank to hold public funds after they failed to submit anti-discrimination plans.

By Rajashree Chakravarty • May 26, 2023

First Citizens cuts hundreds of SVB veterans

First Citizens Bank acquired Silicon Valley Bank following SVB's collapse in March. Wednesday's layoffs reportedly affect “select SVB corporate functions, not client-facing positions.”

By Gabrielle Saulsbery • May 25, 2023

Citi abandons sale of Mexico retail unit

The bank will pursue an IPO for its consumer, small-business, and middle-market banking operations, with a launch expected in 2025.

By Dan Ennis • May 24, 2023

PacWest offloads real estate lending unit Civic Financial

Previously originated loans and loan servicing operations were not included in the deal to Roc360, which bought the business for an undisclosed sum.

By Gabrielle Saulsbery • May 24, 2023

PacWest to sell $2.6B in real estate loans

Real estate investment firm Kennedy-Wilson has agreed to buy a portfolio of 74 loans at a discounted price as PacWest tries to bolster its liquidity amid regional bank turmoil.

By Rajashree Chakravarty • May 23, 2023

First Citizens sues HSBC over departure of 42 SVB bankers

The North Carolina bank accused a former SVB executive of helping HSBC, his new employer, incite a mass migration of talent and trade-secret information.

By Dan Ennis • May 23, 2023

JPMorgan added roughly 600,000 checking accounts through April

JPMorgan executives addressed the bank's acquisition of First Republic, and more, at an investor day it hosted Monday.

By Gabrielle Saulsbery • May 22, 2023

Defining a personalization strategy? Banks must consider 4 unique consumer profiles

Research reveals the four types of bank customers based on their desired outcome from personalization.

By Katie Pagenkopf • May 22, 2023

Morgan Stanley CEO Gorman to step down within a year, he says

The bank’s board has “identified three very strong senior internal candidates” to succeed him, Gorman said. Morgan Stanley's market capitalization has tripled under Gorman.

By Dan Ennis • May 19, 2023

Crypto company offers 6 months of free custody for female-founded firms

Clear regulations will bring more women into the space, Aegis Custody CEO Serra Wei said.

By Gabrielle Saulsbery • May 19, 2023

Deutsche Bank to pay $75M to Epstein victims

Epstein victims have sued both Deutsche Bank and JPMorgan, alleging they benefited from their relationships with the financier despite knowing of his crimes.

By Gabrielle Saulsbery • May 18, 2023

6 suggestions the Fed’s Michael Barr has for banks, supervisors

The central bank's supervision czar laid out his recommendations for capital requirements, a culture shift promoting quicker action by regulators, and a host of other tweaks.

By Dan Ennis • May 16, 2023

Wells Fargo to pay $1B in fake-accounts class-action settlement

Prior leadership at the bank distorted how quickly it was addressing and fixing risk management systems that allowed sales staff to open millions of phony accounts, plaintiffs alleged.

By Gabrielle Saulsbery • May 16, 2023

Western Alliance’s chief legal officer delays job change

Randall Theisen was set to become the bank’s head of corporate affairs in the first quarter of 2023. He is fulfilling both that and the CLO role, according to Western Alliance’s website and a recent proxy filing.

By Rajashree Chakravarty • May 15, 2023