Commercial banking

Higher interest rates are generally helpful to the industry, but they are also leading to unrealized losses in banks’ bond portfolios. Trust banks such as Bank of New York Mellon, State Street and Northern Trust may take relatively large hits when they announce their first-quarter results.

Robert Sarver, who is majority owner of the Phoenix Suns basketball team, will retire from his longtime role on the board of directors of Western Alliance Bancorp. in June, the company said. Sarver and the Suns are being investigated by the National Basketball Association regarding allegations of racism and misogyny within the Suns organization.

Citigroup and Bank of America are partnering with four large European banks to create a methodology for assessing how well companies in the air-travel sector are doing in meeting climate-related targets.

New York Fed researchers found that banks operating in areas hit by tornadoes, floods and other calamities weren’t financially hurt by those disasters. That surprising result comes with significant caveats, however.

Robyn Luhning, the bank’s head of environmental and social risk management, takes the position at a time when financing for the fossil-fuel industry faces scrutiny. Other large banks have created similar roles in recent years.

Vernon Hill, Ellen Alemany and Joseph Otting are among the executives whose careers took a turn after their company was acquired. Here’s a look at what eight CEOs did after their time atop a bank ended.

Climate activists have forced votes this spring on whether big banks should move more aggressively to cut off their financing of fossil-fuel companies.