Commercial: Page 16
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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 -
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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 -
Explore the Trendline➔
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TrendlineM&A
President Donald Trump’s reelection was predicted to yield loosened regulation. But tariff volatility and economic uncertainty has thrown a wrench into an expected boom in mergers and acquisitions.
By Banking Dive staff -
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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 -
Denis Tangney Jr. via Getty Images
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 -
Drew Angerer via Getty Images
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 -
Chris Hondros via Getty Images
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 -
Spencer Platt via Getty Images
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 -
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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 -
Chris Hondros via Getty Images
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 -
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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 -
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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 -
Spencer Platt / Staff via Getty Images
ColumnDive 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 -
Anna Moneymaker via Getty Images
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 -
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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 -
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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 -
Jacob Boomsma/iStock/Getty Images Plus via Getty Images
HTLF sheds its Montana footprint
The Denver-based institution sold six of its branches in Big Sky Country to Kalispell-based Glacier Bank and three others to Miles City-based Stockman Bank.
By Ken McCarthy • Feb. 15, 2024 -
Justin Sullivan via Getty Images
Citi to monitor how often private bankers make client calls: report
The lender wants its private bankers to contact its clients at least once every 90 days and record in detail the conversations, the Financial Times reported Wednesday.
By Rajashree Chakravarty • Feb. 15, 2024 -
Chris Hondros via Getty Images
Viva Wallet CEO sues JPMorgan, claiming bank is limiting growth
Haris Karonis alleges JPMorgan, which owns 48.5% of Viva, is seizing on “perverse incentives” that allow the bank to take full control of the fintech if its value falls below €5 billion next year.
By Gabrielle Saulsbery • Feb. 15, 2024 -
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PNC wants to open 100 new branches by 2028
The bank pledged to invest roughly $1 billion to open locations in cities such as Dallas, Denver and Houston, and to renovate existing branches.
By Rajashree Chakravarty • Feb. 14, 2024 -
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Bank of America customer data exposed in IT provider breach
A threat actor compromised Infosys McCamish Systems in November, affecting more than 57,000 Bank of America customers.
By Rajashree Chakravarty • Feb. 13, 2024 -
Oli Scarff via Getty Images
Citi faces rebukes, new orders from regulators: report
The Federal Reserve sent three notices late last year instructing the lender to improve its data and governance, Reuters reported.
By Rajashree Chakravarty • Feb. 12, 2024 -
Oli Scarff via Getty Images
Barclays ceases direct funding of new fossil fuel projects
The London-based bank will also require all of its portfolio energy companies to report their scoped emissions reductions targets and any expansion plans by Jan. 1, 2025.
By Lamar Johnson • Feb. 12, 2024 -
Spencer Platt / Staff via Getty Images
NYCB insiders bought 200K shares. Is this the show of confidence the bank needs?
One analyst highlights the bank’s willingness to “eat their own cooking.” But others have their eye on commercial real estate, NYCB’s rapid growth and a tinge of Signature deja vu.
By Dan Ennis • Feb. 12, 2024 -
Melissa Sue Gerrits via Getty Images
HSBC CEO knew of a plan to poach SVB bankers, First Citizens alleges
First Citizens filed an amended complaint in federal court Wednesday, in line with a judge’s order last month to “clean up” its initial $1.2 billion lawsuit.
By Gabrielle Saulsbery • Feb. 9, 2024 -
Permission granted by Citizens Financial Group
Citizens taps JPMorgan vets to lead private bank
The Rhode Island-based lender opened its first private banking office in Boston and said it plans to open offices in Palm Beach, Florida, and Mill Valley, California, this year.
By Rajashree Chakravarty • Feb. 9, 2024
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