HSBC Holdings is planning to phase out the financing of coal used for generating electricity by 2040, the latest bank to commit to ending support for the greenhouse gas-intensive fossil fuel.

The acquisition of MoffettNathanson is the latest in a string of moves by Silicon Valley Bank’s parent company to extend the reach of its investment banking arm into the tech sector.

James Herbert is expected to step away from his duties for six months due to a coronary health issue. Co-CEO Hafize Gaye Erkan will take on more responsibilities.

With prices increasing faster than they have since the 1990s, the Federal Reserve appears poised to tighten monetary policy. Top industry executives are worried about the chances of either a recession or runaway inflation, depending on whether the central bank moves too quickly or too slowly.

Business lines south of the border, led by a diversified commercial banking unit, contributed more than 40% of total earnings at Bank of Montreal over the past 12 months. Company executives now see an opportunity in selling wealth management services to commercial clients.

The deal for Summit Financial furthers First Financial’s strategy of acquiring national niche business lines.

Higher interchange fees and a giveback of loan-loss provisions helped banks overcome rising expenses and other headwinds in the third quarter, according to the Federal Deposit Insurance Corp.'s Quarterly Banking Profile.