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Courtesy HSBC
HSBC names CFO Elhedery as its next CEO
The Lebanon-born banker was seen as an early front-runner to succeed Noel Quinn. Elhedery took a sabbatical in 2022, reportedly learning Mandarin, and was named CFO when he returned.
By Dan Ennis • July 17, 2024 -
Webster Bank taps ex-First Republic CFO as new finance chief
Neal Holland served as CFO of First Republic for roughly seven months before JPMorgan acquired it. He also was MUFG Union’s CFO just ahead of its purchase by U.S. Bank.
By Rajashree Chakravarty • July 17, 2024 -
Explore the Trendline➔
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TrendlineThe Banking Dive Outlook on 2022
Some narratives in 2022, such as office returns, will seem like a logical progression from the year before. Others, such as the regulatory sphere and shift toward smaller M&A, may mark a big shift from the previous 12 months.
By Banking Dive staff -
Alex Wong / Staff via Getty Images
Truist to cut tech jobs amid restructuring
The bank will make an undisclosed number of cuts over the next three to four months and help affected employees in finding other opportunities.
By Gabrielle Saulsbery • July 16, 2024 -
Win McNamee / Staff via Getty Images
BofA projects net interest income improvement later this year
Second-quarter results for the Charlotte, North Carolina-based lender are yet another sign banks are getting bit by higher-for-longer interest rates.
By Caitlin Mullen • July 16, 2024 -
Drew Angerer / Staff via Getty Images
Wells Fargo cites customer movement as net interest income drops
The bank looked for a boost from higher fees in investment banking as it aims to reduce its reliance on net interest income.
By Caitlin Mullen • July 12, 2024 -
Mario Tama via Getty Images
ColumnDive Deposits: It was Citi’s week and, arguably, everybody won
The bank shook off fresh penalties by reporting skyrocketing revenue in its banking unit. It’s no wonder Citi granted $41 million to its banking chief. But a rival for that job may be glad he left.
By Dan Ennis • July 12, 2024 -
"Royal Bank of Canada's global headquarters at 200 Bay Street in Toronto, Canada" by Francisco Diez is licensed under CC BY 2.0
RBC shakes up C-suite, splits personal and commercial banking
A spate of moves appears to elevate Neil McLaughlin as a contender to succeed Dave McKay as CEO, but that transition may not be soon. The bank did not disclose the future of its still-interim CFO.
By Dan Ennis • July 11, 2024 -
Anna Hrushka/Banking Dive
FDIC downgrades Forbright Bank’s CRA score
The demerit stems from a relationship the bank had with a third party that ended more than two years ago, a source familiar with the evaluation said.
By Gabrielle Saulsbery • July 9, 2024 -
Permission granted by SMBC
Q&AJenius Bank’s ‘special sauce’: Keeping it simple, with a little parent company help
In just a year, the digitally native bank has surpassed $1 billion in deposits and $900 million in personal loans.
By Gabrielle Saulsbery • July 3, 2024 -
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Indiana’s United Fidelity Bank hit with Fed order
The move follows an enforcement action the Office of the Comptroller of the Currency issued in October to address capital planning, risk management and contingency funding, among other issues.
By Gabrielle Saulsbery • June 26, 2024 -
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Riverview Bank taps M&A expert as next CEO
Nicole Sherman has led 10 mergers in her career. She will replace acting head Dan Cox, who took over in September, when former CEO Kevin Lycklama was fired.
By Rajashree Chakravarty • June 24, 2024 -
Denis Tangney Jr. via Getty Images
Thrivent receives ILC charter
Following its approval for deposit insurance, the financial services company plans to convert Thrivent Federal Credit Union into online-only Thrivent Bank.
By Gabrielle Saulsbery • June 24, 2024 -
Denis Tangney Jr. via Getty Images
Gemini to settle with NY AG for $50M
The $50 million in digital assets will go directly to investors of its defunct Gemini Earn program, who will be made whole, according to the settlement.
By Gabrielle Saulsbery • June 17, 2024 -
Jeff Zelevansky via Getty Images
Provident Bank to close 22 branches in New Jersey
Provident, whose merger with in-state peer Lakeland Bancorp closed last month, has decided to shutter branches due to overlapping proximity, the lender announced recently.
By Rajashree Chakravarty • June 14, 2024 -
Spencer Platt / Staff via Getty Images
Citi’s Sieg charts strategy to grow wealth business
Amid Citi’s massive reorganization, there have been “very few” regretted departures, the bank’s head of wealth said Wednesday. He also suggested more key leadership hires are yet to come.
By Caitlin Mullen • June 13, 2024 -
Chris Hondros / Staff via Getty Images
JPMorgan names firmwide CTO
Former PayPal technology chief Sri Shivananda brings with him an “exceptional track record in innovation and technology leadership,” JPMorgan Chase's CIO Lori Beer said in a memo.
By Gabrielle Saulsbery • June 11, 2024 -
Joe Raedle / Staff via Getty Images
TD faces $4.9B proposed class action
Canada’s second largest lender has been awash with anti-money laundering woes, with allegations based in multiple states. The bank set aside $450 million in April and overhauled its AML program.
By Gabrielle Saulsbery • June 7, 2024 -
Samuel Corum/Getty Images via Getty Images
Judge denies Frank execs’ motions to dismiss fraud charges
Charlie Javice and Olivier Amar sought to have the charges against them dismissed due to their indictments’ “lack of specificity.” They were unsuccessful.
By Gabrielle Saulsbery • June 5, 2024 -
Permission granted by TD Bank
Florida TD employee accused of taking bribes in new AML case
The employee, who has since been fired, allegedly took $200 bribes from a Colombian national and allowed the transfer of millions of dollars from the U.S. to Colombia, court documents show.
By Gabrielle Saulsbery • June 4, 2024 -
Michael M. Santiago / Staff via Getty Images
Goldman considering bonuses for private bank referrals: report
Executives are considering relying on a formula to calculate bonus pay for investment bankers who refer clients to Goldman's private bank, sources told the Financial Times.
By Gabrielle Saulsbery • June 3, 2024 -
Chip Somodevilla via Getty Images
Supreme Court remands BofA escrow dispute to appeals court
The nation’s highest court said the lower court "did not conduct the kind of nuanced comparative analysis" required by federal law and a previous Supreme Court ruling.
By Gabrielle Saulsbery • May 31, 2024 -
Alex Wong / Staff via Getty Images
Truist CEO on cost cuts: We needed ‘a shock to the system’
Bill Rogers detailed the "discipline," "intensity" and fresh mindset the bank has adopted eight months after launching an effort to "reorient" itself.
By Caitlin Mullen • May 31, 2024 -
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Zelle faces Senate probe on fraud
“The scale of fraud on the Zelle platform is unacceptably high,” National Consumers League Vice President John Breyault said.
By James Pothen • May 31, 2024 -
Michael M. Santiago / Staff via Getty Images
Goldman alum Esposito lands at Citadel Securities
The 28-year Goldman vet will take on a new role as president at the market maker. He'll join in September and be responsible for growing client and partner relationships.
By Dan Ennis • May 31, 2024 -
Win McNamee / Staff via Getty Images
Dimon: ‘No magic formula’ on CEO, chairman moves
The JPMorgan CEO largely pinned his future timeline on the board Wednesday during a conference appearance, while Wells Fargo CEO Charlie Scharf detailed his investment-banking growth strategy.
By Caitlin Mullen • May 29, 2024
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