Goldman's general counsel gets a 75% raise over her predecessor

$7.5 million is a popular pay boost for the bank. That's the amount by which CEO David Solomon, President John Waldron and General Counsel Kathy Ruemmler saw their compensation jump last year.

By Robin Bradley • March 21, 2022

Huntington poaches Truist retail banking chief

Truist, meanwhile, promoted its chief digital officer to lead the Charlotte, North Carolina-based bank's retail and community banking and marketing efforts.

By Robin Bradley • March 18, 2022

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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

JPMorgan Chase continues overseas acquisition streak

The bank on Tuesday bought an Irish software provider that helps businesses manage employee share plans in a deal reportedly valued at $730 million.

By Robin Bradley • March 16, 2022

JPMorgan Chase drops ban on unvaccinated new hires

The bank, in a memo Monday, said it will stop mandatory twice-weekly testing of unvaccinated employees April 4, and no longer require unvaccinated workers to wear face masks, effective immediately.

By Robin Bradley • March 15, 2022

Arizona deal marks 5th credit union purchase of bank in 2022

At the current pace, 26 credit union-bank tie-ups could be in the works by the end of the year, far surpassing 2019's record.

By Robin Bradley • March 14, 2022

Capital One's general counsel wears 2 new hats

The McLean, Virginia-based bank has seen two other high-profile exits from its legal department in the past two weeks.

By Robin Bradley • March 11, 2022

BNY Mellon CEO Todd Gibbons to retire Aug. 31

Robin Vince, a 26-year Goldman Sachs veteran who joined BNY Mellon in 2020, will take the bank's top role.

By Robin Bradley • March 10, 2022

Citi names next chief compliance officer

Tom Anderson, who now serves as chief compliance officer for the bank's personal banking and wealth management division, returned to Citi last year after stints at American Express and JPMorgan Chase.

By Robin Bradley • Updated May 12, 2022

Judge may rule soon on Wells Fargo commercial real estate 'time bomb'

The bank has moved to dismiss a class-action lawsuit that alleges it improperly inflated underwriting metrics ahead of the pandemic, leaving the company vulnerable to losses in 2020.

By Maura Webber Sadovi • March 7, 2022

Wells Fargo's brand management chief is leaving May 1

Barri Rafferty's "innovative approach to communications" helped the bank achieve "enhanced favorability, trust and ... media sentiment," Bill Daley, the bank's vice chairman of public affairs, wrote in a memo.

By Robin Bradley • March 3, 2022

At investor day, Citi makes a plea for time

The bank warned of $4 billion in potential losses and an uptick in expenses from tech investments and hiring. But it also adjusted expectations for a return on tangible common equity.

By Dan Ennis • March 3, 2022

Longtime United Bank CEO Richard Adams to leave top role

Adams, who has led the bank for nearly 47 years, will become executive chair of its board April 1, when his son succeeds him as CEO.

By Robin Bradley • March 2, 2022

Citi has a $9.8B Russia headache

In the wake of Russia’s invasion of Ukraine, the bank warned investors of exposure that includes loans, securities, funding commitments and cash at the country's central bank.

By Dan Ennis • March 1, 2022

TD to acquire First Horizon in $13.4B deal

The transaction, expected to close in the fall, would expand the Canadian bank's Southeast footprint, adding $55 billion in loans and $75 billion in deposits to its balance sheet and making it the U.S.'s sixth-largest retail bank.

By Robin Bradley • Feb. 28, 2022

Citi calls vaccinated workers back to office March 21

The bank's human resources chief credited a steady decline in the COVID-19 caseload and decreased risk for vaccinated workers in the decision to place employees on site at least two days a week.

By Dan Ennis • Feb. 24, 2022

SoFi to buy banking software firm Technisys for $1.1B

The deal would give the newly minted bank control of its platform's back-end technology. The transaction could generate $800 million in additional revenue by 2025, the company said.

By Robin Bradley • Feb. 22, 2022

BNY Mellon poaches treasury services CEO from JPMorgan

Jennifer Barker, a 19-year JPMorgan veteran, takes on a role held until August by Paul Camp, who left BNY Mellon for Wells Fargo.

By Robin Bradley • Feb. 17, 2022

A new, understated Goldman tweaks its strategy

The bank updated its targets for return on tangible common equity, consumer banking revenue and asset management in a less splashier fashion than its 2020 investor day.

By Dan Ennis • Feb. 17, 2022

Santander to wind down US mortgage lending

Santander wants to focus on more profitable silos in the U.S., such as auto loans. U.S. banking accounted for 22% of the Spanish bank's profits in 2021 — more than triple the 7% it comprised in 2019.

By Dan Ennis • Feb. 4, 2022

Revolut to offer 30-minute, fee-free remittances from US to Mexico

Remittances sent from the U.S. to Mexico increased by 37.7% between November 2020 and 2021, according to research published by BBVA.

By Robin Bradley • Jan. 31, 2022

CFPB blasts 'junk fees' in new salvo against overdraft, other charges

The bureau is seeking comments from the public through March 31 concerning fees on bank accounts, credit cards and other financial products that may be seen as excessive or unexpected.

By Robin Bradley • Jan. 27, 2022

Bank of America to give restricted-stock bonuses to rank and file

Full-time U.S. employees making less than $500,000 a year will get 65 to 600 restricted stock units, which will vest over four years. The bank also bumped salaries by $100,000 for directors and managing directors in some silos.

By Robin Bradley • Updated Jan. 27, 2022

Big banks gear up to return to office despite omicron variant

Citi, Goldman Sachs and others have set hard dates for when workers are expected to return, while Wells Fargo and Capital One are taking a wait-and-see approach.

By Robin Bradley • Jan. 25, 2022

US banks close 2,927 branches in 2021, a 38% jump

Wells Fargo, with 267, reported more net closures than any other bank in the U.S., followed by U.S. Bank at 257. However, Huntington Bank saw 16% brick-and-mortar shrinkage, the most for a bank its size, S&P Global found.

By Robin Bradley • Jan. 24, 2022

JPMorgan Chase boosts Dimon's compensation 9.5%, to $34.5M

With the package, Dimon would regain his place as the best-paid CEO among the U.S.'s top six banks. JPMorgan's board cited 2021's record profit and revenue, a 23% return on tangible common equity and numerous acquisitions.

By Dan Ennis • Jan. 21, 2022