Amid a deal drought that has dragged on for more than a year, Wells Fargo is cutting 40 to 50 jobs in its corporate and investment bank division, say people with knowledge of the decision.  

City National Bank has tapped Howard Hammond, a 17-year veteran of Fifth Third Bancorp, as CEO of the Los Angeles-based bank, replacing Kelly Coffey, who will move to a newly-created role as CEO of the bank's entertainment unit.

In addition to expense-reduction measures, the Wisconsin-based regional bank is selling almost $2 billion of mortgages and securities and will invest in its lending and deposit-gathering capabilities.

Banks across the spectrum of size and location serve small businesses — but they all do it differently. At American Banker's Small Biz Banking 2023 conference in Nashville from November 13-15, banks of all sizes will come together to share ideas, learn from experts and hear from bankers in the field who are doing it best. 

More banks are selling their underwater bond portfolios at a loss, crystallizing what were previously losses on paper only. Though the maneuver brings some short-term pain, the banks expect to make the money back over time.

Regulators are looking into practices within JPMorgan's securities arm and investigating parts of its trading operations, according to a regulatory filing by America's largest bank.

Amid intense regulatory scrutiny, market volatility and economic uncertainty, 10 bank M&A deals have been scrubbed so far this year after 13 were scuttled last year. Deal activity has risen slightly lately, but the new normal is hard to gauge.