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JPMorgan is still stuck on soccer
The bank, which saw blowback when it aimed to finance a breakaway European soccer league, has created a "sports investment banking coverage" team, Reuters reported Tuesday.
By Dan Ennis • March 20, 2024 -
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Wall Street securities bonuses drop 2% in 2023: NY comptroller
The industrywide bonus pool stood at $33.8 billion, almost in line with the 2022 pool but well below 2021's $42.7 billion, according to a report released Tuesday.
By Rajashree Chakravarty • March 19, 2024 -
Explore the Trendline➔
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TrendlineArtificial intelligence
The heavily regulated banking sector rarely gets to trailblaze. But with AI, an all-in mentality is fueling both research and adoption.
By Banking Dive staff -
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PNC leans on ‘boring’ label in new marketing campaign
While PNC’s CEO said his industry “sometimes chases shiny objects,” a J.D. Power analyst asserted the bank’s ads may challenge customers to see the meaning of “boring” differently.
By Caitlin Mullen • March 19, 2024 -
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ColumnDive Deposits: Santander pay frustration should be aimed at the US
A proxy adviser urged shareholders to reject a €12.2 million pay package for Chair Ana Botín. She earns less than half what CEOs at similarly sized U.S. banks make, but the gripe is over fixed salary.
By Dan Ennis • March 18, 2024 -
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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 -
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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 -
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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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
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