UBS names next CFO, holds onto Credit Suisse CEO Körner

In a leadership shuffle, Todd Tuckner, CFO of UBS’s global wealth management arm, will succeed Sarah Youngwood as group CFO. Youngwood is leaving the bank.

By Gabrielle Saulsbery • May 9, 2023

Goldman Sachs to pay $215M to settle gender discrimination case

The Wall Street giant will engage an independent expert to review performance evaluation and pay practice to check for gender pay gaps.

By Rajashree Chakravarty • May 9, 2023

Explore the Trendline➔

Top 5 stories from Banking Dive

Since the approval of Capital One’s acquisition of Discover, banks have increasingly waded into new deals. Beyond that, they’ve doubled down on strategy, from organic growth to branch placement to app design.

By Banking Dive staff

Concerns over TD’s AML practices sunk First Horizon deal: report

TD’s five-year, $50 billion community benefits agreement has also become a casualty of the failed tie-up.

By Anna Hrushka • May 9, 2023

Bank failures make construction loans even more challenging

The Fed's interest rate hikes began squeezing the lending environment last year. But Ric Campo, CEO at REIT Camden, said he expects to see a 60% reduction in starts because of the banking crisis.

By Leslie Shaver • May 8, 2023

Republic First Bank to exit mortgage origination

The Philadelphia-based bank is also pulling back on commercial lending in New York City and reducing its workforce there.

By Gabrielle Saulsbery • May 8, 2023

Catawba Indian Nation passes code to woo banks, fintechs

The Catawba Digital Economic Zone hopes to gain regulatory approval for de novo banks to receive charters under the laws of the reservation’s federally recognized land.

By Anna Hrushka • May 8, 2023

KeyBank agrees to third-party racial equity audit

The move comes roughly a month after the National Community Reinvestment Coalition asked the Federal Reserve and the OCC to downgrade KeyBank’s CRA rating over redlining allegations.

By Rajashree Chakravarty • May 5, 2023

PacWest or Pacific West?: Curbing name confusion, Take 2

An Oregon lender distances itself from the troubled regional with two website notices and a press release.

By Dan Ennis • May 5, 2023

Senate panel to hold cannabis banking hearing

Lawmakers behind the latest version of the SAFE Banking Act say the revised text addresses the social equity issues that some key Senate Democrats say the legislation has lacked in previous years.

By Anna Hrushka • May 5, 2023

Goldman in talks to settle gender discrimination suit: reports

The class-action lawsuit, which was first filed in 2010, is scheduled to go to trial next month in New York.

By Rajashree Chakravarty • May 4, 2023

Feds probe Goldman’s dealings with SVB in lead-up to collapse

The investment bank was both a buyer of SVB’s bond portfolio and adviser of its failed capital raise in the days ahead of the regional lender’s collapse in March.

By Anna Hrushka • May 4, 2023

As PacWest explores its ‘options,’ Western Alliance strongly denies the same for itself

Media reported the banks were both exploring sales. Western Alliance, for its part, said that was “absolutely false.”

By Gabrielle Saulsbery • May 4, 2023

TD, First Horizon terminate $13.4B merger

TD will pay First Horizon $200 million in cash, in addition to a $25 million fee reimbursement. TD blamed “uncertainty” as to when the deal might gain regulatory approval.

By Dan Ennis • May 4, 2023

Metropolitan Commercial Bank CEO to repay $7.5M loan

The loan, which helped CEO Mark DeFazio buy 220,200 Metropolitan shares, was deemed "likely impermissible," according to an SEC filing. The bank also canceled the stock purchase.

By Gabrielle Saulsbery • May 3, 2023

Wells Fargo unionization proposal falters

Wells Fargo Workers United member Trevor Brown called Proposal 11 "a cool first step," and a "flashpoint" to employee awareness on collective bargaining efforts.

By Gabrielle Saulsbery • May 2, 2023

Morgan Stanley to cut 3,000 more jobs by June: reports

Many of the layoffs are expected in investment banking and securities, Bloomberg and the Financial Times reported, adding that customer-facing financial advisers in wealth management would largely be immune.

By Dan Ennis • May 2, 2023

JPMorgan to ‘fight hard’ to retain First Republic clients, CFO says

JPMorgan’s agreement to buy the failed bank’s assets once again raises questions of the health of the banking ecosystem, particularly shining a light on regional banks.

By Grace Noto • May 1, 2023

Ex-UBS exec Naratil hired as bank’s CFO: report

CEO Sergio Ermotti is hiring UBS veterans to form a core team to lead the Credit Suisse integration, according to sources.

By Rajashree Chakravarty • May 1, 2023

FDIC orders Cross River to correct ‘unsafe’ lending practices

The $9 billion-asset bank, which neither admitted nor denied the charges, is not allowed to enter into any new partnerships with third parties or offer new credit products without the regulator’s approval.

By Anna Hrushka • May 1, 2023

JPMorgan Chase to acquire seized First Republic

The nation's largest bank is taking in roughly $173 billion in loans, $30 billion in securities and $92 billion in deposits as part of the FDIC-orchestrated sale, expected to cost the Deposit Insurance Fund $13 billion.

By Dan Ennis • May 1, 2023

Fed blames own oversight, bank management in SVB failure

In its post-mortem, the central bank said SVB failed because of a “textbook case of mismanagement.” Fed supervisors were also slow to identify problems and take action, it said.

By Anna Hrushka • April 28, 2023

JPMorgan employees blast return-to-office order: report

Staffers, citing long commutes and work-life balance, swamped the bank’s internal messaging forum with requests that the firm reconsider the policy, according to Reuters.

By Rajashree Chakravarty • April 28, 2023

Santander poaches Deutsche’s US chief Riley

The move is part of a management shake-up that came a day before the German bank announced it was shedding 800 senior back-office jobs.

By Dan Ennis • April 27, 2023

FTX to sell derivatives platform LedgerX for $50M

FTX bought LedgerX in October 2021 to expand its regulated futures and options offerings in the U.S.

By Gabrielle Saulsbery • April 27, 2023

UBS attracts $28B in new money in Q1

About one-quarter of those inflows came in the last 10 days of March, after the bank’s tie-up with rival Credit Suisse was announced.

By Rajashree Chakravarty • April 25, 2023