Asset management

The Cleveland-based regional bank is shedding credit risk in a partnership with the private equity giant Blackstone. It's the latest tie-up between asset managers and regional banks that are looking to free up balance-sheet capacity.

The custody bank will offer clients technology from Microsoft that lets them analyze their data in near-real time, hosted on the latest versions of Microsoft's public and private clouds.

The North Carolina bank agreed to offload Sterling Capital Management to Guardian Capital Group in Toronto. It's the latest step in the effort to simplify Truist.

The revamp will see Greg Olafson become global head of private credit from his current role as co-president of alternatives.

The founder of an ETF that tracks all American public companies with female CEOs sits down with American Banker Editor-in-Chief Chana Schoenberger to discuss why it matters if a company has a woman as CEO.

Rasmussen, a Minnesota native, started her professional career as a dental hygienist. After a series of twists and turns, she now runs Thrivent, a multibillion-dollar fraternal benefit society.

Hybrid working made it easier for some women to pursue a career while balancing family demands but a renewed return-to-office push may reverse some of those gains, a report predicted.

Executives say Bank of New York Mellon can maintain its upbeat forecasts on net interest income and perhaps beat its expense-control goals. However, they warn deposits could shrink in the second half.

Deposits at BNY Mellon stood at $281.3 billion, versus the average $277 billion forecast by analysts tracked by Bloomberg.

The Boston-based custody bank reported a 9% decline in fee income from a year earlier and a shift away from non-interest-bearing deposits that cost it millions in net interest income. As a result, earnings per share fell 12 cents short of analysts' expectations.