Evergreen Funds, the mutual fund arm of First Union Corp., Charlotte,
Janet Hanson was named senior vice president and chief operating
Ms. Hanson joined Evergreen from KPMG Peat Marwick where she headed the
As chief operating officer, Ms. Hanson is responsible for Evergreen's
Ms. Hanson will have roughly 400 people reporting to her, and she will
Mr. Ennis said that Ms. Hanson is already on board and that "she and
Evergreen has roughly $46.3 billion of assets under management.
Beth Johnson, a self-described math geek, is driving the bank's ESG strategy and training its employees to keep pace with industry trends.
The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
The first-quarter increase involved commercial real estate loans, including some problematic multifamily loans and an office credit, but none of the criticized loans were to consumers, officials at the Dallas company say. Further CRE deterioration is anticipated.
The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
Charge-offs and nonperforming loans rose at the Georgia bank in the first quarter. But it blamed the problem on one large client and said the matter has been resolved.
