Commercial: Page 3


  • A round sign features HSBC's lettering and logo.
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    Column

    ‘Hey. Think [bank] will let you go? It’s your old pal, HSBC. We have work.’

    HSBC reportedly is sending recruitment emails to bankers at Credit Suisse and other firms preparing for layoffs.

    By Dec. 14, 2022
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    seb_ra via Getty Images

    Apex, Unifimoney partner on digital investment solutions for banks

    Oklahoma-based First Fidelity Bank is the first customer to go live with the services offered by the partnership.

    By Dec. 14, 2022
  • Trendline

    The Banking Dive Outlook on 2023

    Harsher penalties, a fiercer fight over ESG philosophy and a more urgent push to regulate crypto appear poised to roil the finance sector in 2023.

    By Banking Dive staff
  • A person walks into BNY Mellon's headquarters in New York City.
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    Mario Tama / Staff via Getty Images

    BNY Mellon gives stock bonuses to its rank and file

    TD and Bank of America offered similar stock awards last year. BNY’s move is notable for its timing — as banks consider trimming bonuses. BNY Mellon also bumped up its parental leave policy Wednesday.

    By Dec. 14, 2022
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    Alex Wong via Getty Images

    Warren, Toomey unite on bill to make Fed more transparent

    The proposed legislation aims to make the Fed, its regional branches and regulatory agencies in general more accountable for disclosing information.

    By Dec. 12, 2022
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    Mario Tama via Getty Images

    Morgan Stanley Asia investment bankers see bonus cuts of up to half: report

    The news comes less than a week after the bank announced it would trim its global workforce by 1,600 employees.

    By Dec. 12, 2022
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    Dan Kitwood via Getty Images
    Q&A

    Northern Trust predicts a ‘pause’ in the mainstreaming of crypto

    The FTX crisis will prompt "reflection" regarding crypto, an executive said. But Northern Trust still predicts 5% and 10% of its assets under custody will be digital by 2030.

    By Lynne Marek • Dec. 12, 2022
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    Mario Tama via Getty Images

    Morgan Stanley slashes 1,600 jobs

    The move comes on a day when Goldman Sachs CEO David Solomon warned of "bumpy times ahead" and Bank of America chief Brian Moynihan said his firm would slow hiring.

    By Dec. 7, 2022
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    gradyreese via Getty Images

    Webster Bank gets $9B boost with interLINK acquisition

    The deal comes three months after a Dallas bank alleges interLINK’s owner, StoneCastle Partners, “unilaterally terminated” a previous deal to sell the business for $91 million in cash and stock.

    By Dec. 6, 2022
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    Zhanna Hapanovich via Getty Images

    Newtek gets OCC green light to acquire NBNYC

    The approval comes 16 months after Newtek proposed to reposition itself as a bank holding company. The acquisition should strengthen Newtek’s foothold as the third-largest lender in the SBA’s 7(a) program.

    By Dec. 6, 2022
  • Michael Barr
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    Fed’s Barr calls for stricter capital requirements

    The vice chair for supervision did not say when a review of the stress test framework would be complete, but more details are expected early next year.

    By Dec. 5, 2022
  • A Wells Fargo flag flies in front of a Wells Fargo bank branch.
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    Justin Sullivan via Getty Images

    Wells Fargo launches new commercial banking platform

    Vantage replaces the bank’s two-decade-old Commercial Electronic Office Portal and aims to bring a "consumer-like experience" to Wells' commercial and corporate clients, an executive said.

    By Dec. 5, 2022
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    Fotolia

    10 top reads from Banking Dive

    If you're new, welcome. Here's a chance to catch up on some of our best work.

    By Dec. 4, 2022
  • Woman stands under TD Bank sign.
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    Drew Angerer via Getty Images

    TD, BMO adjust their timelines for First Horizon, Bank of the West deals

    TD now aims to wrap its transaction by April and give First Horizon stockholders an extra $0.65 per share. BMO said its deal is “rounding third base,” on track for a first-quarter close.

    By Dec. 2, 2022
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    Courtesy of State Street

    State Street, Brown Brothers Harriman scrap $3.5B deal

    “The regulatory path forward would involve further delays, and all necessary approvals have not been resolved,” State Street said.

    By Dec. 1, 2022
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    Permission granted by Novo

    Novo grows customizable small-business banking platform, eyes lending

    The fintech, which raised $35 million from GGV Capital last week, announced a new partnership Wednesday with LegalZoom to provide entity formation services to Novo customers.

    By Nov. 30, 2022
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    Daniel Berehulak via Getty Images

    UBS chair rules out M&A for its US growth strategy

    “The message in the States is organic growth, no optionality, no distractions, no M&A,” Colm Kelleher said two months after a $1.4 billion deal to buy Wealthfront collapsed.

    By Nov. 30, 2022
  • A round sign features HSBC's lettering and logo.
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    Matt Cardy/Getty via Getty Images

    RBC to buy HSBC’s Canada unit for $10B

    The transaction, expected to close in late 2023, would bolster Canada’s largest lender with a further $99.6 billion in assets and 130 branches. It may also ease investor pressure on HSBC to divest its foreign footprints.

    By Nov. 29, 2022
  • Clipboard with small business loan application form and pen on wooden desk background.
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    Piotrekswat via Getty Images

    Can the SBA make its 7(a) loan program attractive to fintechs?

    A new proposal could pave the way for nonbanks to grab a share of the small-business agency’s 7(a) lending program, but not everyone is convinced the program is suited for fintechs.

    By Nov. 29, 2022
  • Office workstation top view of business people working around M&A, keyboard, calculator, phablet and money on wooden table
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    Atstock Productions via Getty Images

    BMO unveils $40B community benefits plan

    The five-year effort aims to boost homeownership and small-business growth for borrowers of color and in LMI areas. It also comes ahead of BMO’s one-year deadline to close its Bank of the West acquisition.

    By Nov. 29, 2022
  • The Credit Suisse logo on a building front
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    Dan Kitwood via Getty Images

    Credit Suisse warns of $1.6B Q4 loss

    Credit Suisse saw $88.3 billion in outflows between Sept. 30 and Nov. 11, the bank reported Wednesday. Wealth-management customers removed $66.7 billion of that.

    By Nov. 23, 2022
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    Dan Kitwood via Getty Images

    Credit Suisse cuts one-third of China-based investment-banking jobs

    The bank also laid off research staffers headquartered in the country as part of a wider effort to trim 9,000 jobs over three years. Some 2,700 cuts are expected to come this quarter.

    By Nov. 22, 2022
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    Mario Tama via Getty Images

    Morgan Stanley’s generational drain continues

    Franck Petitgas, a 29-year veteran of the bank who has run its capital-markets business and served as global co-head of investment banking, is stepping down Jan. 1 but intends to stay on as a senior adviser.

    By Nov. 22, 2022
  • JPMorgan Chase sign in front of building in street level view.
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    Chris Hondros via Getty Images

    JPMorgan maintains status as world’s most systemically important bank

    Citigroup and HSBC maintained their position since last year at a 2% buffer while BNP joined Deutsche Bank and Goldman Sachs at the 1.5% level this year.

    By Nov. 21, 2022
  • Mergers and acquisitions
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    PeopleImages via Getty Images

    BM Technologies’ acquisition of Seattle community bank pushed to 2023

    The deal would, over time, create a $2 billion-plus institution, and regulators want more details on the infrastructure that would support that growth, CEO Luvleen Sidhu said.

    By Nov. 21, 2022
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    Courtesy of KeyBank

    KeyBank taps chief strategy officer as next CFO

    Clark H.I. Khayat has guided the Cleveland-based lender through several niche acquisitions. He succeeds Don Kimble, who is set to retire May 1.

    By Nov. 18, 2022