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

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

Explore the Trendline➔

Artificial 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

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

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

NYCB names DiNello as CEO, takes $2.4B impairment charge

The bank appointed a chief risk officer and chief audit executive Friday, hours after SEC filings revealed material weakness in the review, oversight, risk assessment and monitoring of NYCB's lending.

By Dan Ennis • March 1, 2024

Citi laying off 286 New York-based employees

The staff cuts, set to take effect before May 3, encompass 239 employees in Citi’s primary banking unit, 44 in its global markets broker-dealer and three in a technology unit, according to WARN notices filed with the state.

By Dan Ennis • Feb. 29, 2024

State Street to invest $100M in MDIs, CDFIs

South Carolina-based Optus Bank and North Carolina-based Mechanics & Farmers Bank, two of the oldest Black-owned banks in the nation, are State Street’s first deposit partners for the program.

By Gabrielle Saulsbery • Feb. 29, 2024

Wells Fargo CFO calls commercial real estate a ‘long movie’

“We’re not at the beginning, but ... we still have a long way to go to really see the ultimate resolution of a lot of this,” Mike Santomassimo said in reply to a question from a UBS analyst at a conference.

By Maura Webber Sadovi • Feb. 28, 2024

Fed denies TNB master account after 6 years

Giving the bank a master account would “pose undue risk to the stability of the U.S. financial system and would adversely affect the Federal Reserve’s ability to implement monetary policy,” the Fed said. TNB CEO James McAndrews disagrees.

By Gabrielle Saulsbery • Feb. 27, 2024

Wells Fargo names JPMorgan veteran as vice chair

Doug Braunstein, who led JPMorgan’s global M&A business among other roles in a two-decade stint, will focus on expanding Wells' corporate finance and advisory operations, the bank said.

By Rajashree Chakravarty • Feb. 27, 2024

HTLF CEO to retire at year-end

Bruce K. Lee will stay on in his role until the Denver-based bank finds a successor and will help with the transition. The bank this month announced it would sell off its retail presence in Montana.

By Dan Ennis • Feb. 26, 2024

Citi taps JPMorgan veteran to lead banking unit

Hiring Vis Raghavan, formerly CEO of JPMorgan’s Europe, Middle East and Africa business, gives Citi a permanent figurehead in a unit led temporarily by the retiring Peter Babej.

By Rajashree Chakravarty • Feb. 26, 2024

JPMorgan names Petno, Gori to oversee global banking

Doug Petno had led JPMorgan’s commercial bank since 2012. The move combines commercial, corporate and investment banking under Petno and Filippo Gori, now the bank’s CEO of Europe, the Middle East and Africa.

By Gabrielle Saulsbery • Feb. 26, 2024

Zions Bank CEO to retire April 1

The bank's CFO will succeed the longtime chief executive at a crucial moment for regional banks like Zions, which saw its profits drop 50% in the fourth quarter.

By Dan Ennis • Feb. 26, 2024

Jamie Dimon sells roughly $150M in JPMorgan shares

The sale comprises 821,778 shares and marks the CEO's first-ever sale of JPMorgan stock since taking the helm of the bank in 2005.

By Gabrielle Saulsbery • Feb. 23, 2024

JPMorgan Chase sued over bounced check fees

The lawsuit filed Tuesday claimed JPMorgan charged “unconscionable” and “predatory” fees for returned checks between November 2021 and October 2022.

By Rajashree Chakravarty • Feb. 22, 2024

Onetime CFO contender Hammack leaves Goldman

Beth Hammack confirmed on LinkedIn that she's left Goldman Sachs after more than 30 years. She said she plans to “take a break” for several months.

By Gabrielle Saulsbery • Updated Feb. 26, 2024

Barclays rolls out reorganization, eyes £10B in shareholder returns

The U.K. lender launched a long-awaited three-year plan Tuesday to rebalance its investment bank and cut £2 billion in costs.

By Ken McCarthy • Feb. 20, 2024

JPMorgan to pay nearly $350M over trade reporting errors

The lender has agreed to pay the penalty to two U.S. regulators and is in “advanced negotiations” with a third, JPMorgan said in a filing Friday.

By Rajashree Chakravarty • Feb. 20, 2024

Goldman boosts David Solomon’s pay 24% to $31M

The bank rewarded its CEO for leading a retreat from consumer lending, despite a 24% dip in net income on the year. The package likely makes Solomon the U.S.'s third-best-paid bank CEO.

By Dan Ennis • Feb. 20, 2024

Capital One to acquire Discover in $35.3B deal

The transaction would give a big boost to a bank well-known for its credit card component, yet lend regulatory gravitas and investment dollars to a struggling card network.

By Dan Ennis • Feb. 20, 2024

Dive Deposits: Regulators, bankers talk about NYCB without saying its name

The Fed's vice chair for supervision pledged more scrutiny of CRE portfolios and a closer look when banks cross a certain asset threshold.

By Dan Ennis • Feb. 16, 2024

Fed unveils 2024 stress test scenarios

The results of the stress test, which will include 32 banks instead of 23 compared to last year, are expected to be out in June, the Federal Reserve said. 

By Ken McCarthy • Feb. 16, 2024

Wells Fargo fake-accounts consent order lifted by OCC

The Office of the Comptroller of the Currency said the bank’s “safety and soundness” and its compliance with regulations have prompted the agency to terminate the 2016 consent order.

By Rajashree Chakravarty • Feb. 16, 2024

Deutsche Bank ups its in-office work requirements

Managers will be required to work in the office four days a week, and others will be required to be present three days a week, starting in June.

By Gabrielle Saulsbery • Feb. 16, 2024