Allissa Kline

One year after it bought First Republic Bank, the largest U.S. bank by assets is launching J.P. Morgan Private Client, a new tier in its affluent-consumer services that brings together JPMorgan's brand with First Republic's concierge model.

UMB Financial, Fulton Financial and Provident Financial Services have recently announced capital raises in connection with M&A deals. "They're setting a precedent," one consultant said.

The Puerto Rico-based company's board of directors has given an additional title to COO Javier Ferrer, naming him president as of May 9. His career path closely resembles that of his boss, CEO Ignacio Alvarez.

The Minneapolis-based company has promoted Kedia to president, a role that CEO Andy Cecere and his predecessor both held before being named to the top job.

The embattled Long Island bank unveiled a turnaround plan that involves selling noncore assets and diversifying its commercial loan book. But first, it will need to sort through credit-related challenges in its large commercial real estate portfolio.

Resolutions calling for more details about how the two banks protect Indigenous people's rights failed to win majority approval on Tuesday. JPMorgan Chase shareholders are scheduled to vote on a similar proposal next month.

The combination of the two regional banks is set to create a $64.5 billion-asset company with a 13-state footprint across parts of the Midwest, South and West.

At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.

The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.

After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.

New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.

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 Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.

Morgan Stanley CEO Ted Pick downplayed the importance of government investigations into potential money laundering issues involving wealth management clients. "We've been focused on our client on-boarding and monitoring processes for a good while," he said.

New York Community Bancorp CEO Joseph Otting has added three former colleagues to the embattled company's leadership team. The hires come six weeks after the Long Island bank got a $1 billion capital infusion, which led to Otting's appointment as CEO.

The global bank is making good on its promise to trim expenses, but its ability to increase revenues at the same time remains unclear, partly because of the relatively weak performance of its wealth management business.

The company has long been criticized for its lagging financial performance and its complexity. CEO Jane Fraser is pushing through Citigroup's most recent transformation plan, but will she succeed where her predecessors have failed?

The Tupelo, Mississippi, company announced a management simplification plan in which several executives, including the president and the chief financial officer, are gaining new responsibilities. Most of the changes took effect April 1.

A year ago, the National Community Reinvestment Coalition accused KeyBank of redlining. On Wednesday, the NCRC and Key announced a $25 million "agreement" that NCRC CEO Jesse Van Tol says could open the door to a new community benefits plan.

The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.