Where Banks Are Hiring
The nation's second-largest bank has scaled back in mortgage and commercial lending, but it continues to bulk up in small-business lending. The bank has hired more than 1,000 small-business bankers over the last two years - a big reason why its total small-business loan portfolio increased 28% in 2012 from the previous year. (Image: Thinkstock)
Already the country's No. 1 home lender, Wells Fargo (WFC) is positioning itself for a full-scale housing recovery by hiring mortgage lenders in some of the states hardest hit by the real estate bust. In early January it announced it was hiring 900 lenders and support staff in Arizona and last week it said it will add another 200 in Georgia. It also recently announced it's looking to hire up to 450 employees to staff a new operations center near Dallas that will focus on mortgage underwriting. (Image: Thinkstock)
The U.S. unit of Toronto-Dominion Bank has designated Greenville, S.C. as its Southeastern hub. It plans to more than double its headcount there to 1,400, by the end of 2014. The Greenville campus houses a range of back-office operations, as well as a call center and training facility.
A new Ohio law that removes a cap on interest rates has persuaded the Columbus, Ohio, bank to move much of its credit card operations in-house, resulting in 250 new jobs in its home state. Huntington has also been adding tellers and other front-line employees over the last couple of years as part of its aggressive in-store branch expansion in Ohio and Michigan.
The Cleveland bank is committed to reducing overhead by roughly $200 million a year - partly through staff cuts - but it has added dozens of senior lenders over the last couple of years to focus on middle-market companies.
The New York City bank has thrived by sticking to a model that is all about stealing teams of lenders from rival banks. Signature has added 36 teams - each with three to five bankers - since 2008. Its strategy has helped Signature more than double assets to $17 billion. It's also a key reason why Signature has posted record profits for 13 straight quarters. (Image: Thinkstock)
U.S. banks have shed tens of thousands of jobs in recent years. Still, even those that are pruning staff in some areas are ramping up in specific business lines or markets to generate new revenues. Here's a look at who's hiring and where.
Consumer FinanceInside the Auto Lending Boom
Consumer Finance'The Entire Bay Area Is Basically Jumboland': Comments of the Week
Consumer FinanceHousing Crisis Nears Its Sunset
Marketplace Lending'Social Science Experiments in Lending Always End Badly': Comments of the Week
Consumer Finance6 Ways Relaxed Underwriting Is Unlocking Mortgage Credit
Law & Regulation'Thanks for Fixing a Nonissue': Comments of the Week
Law & Regulation'Let's Not Add Another High-Fee Consultant': Comments of the Week
Law & Regulation'When Reason Fails, Try Blackmail': Comments of the Week