Compensation
Firms under $1 billion of assets that never had a chief risk or credit officer, for example, are creating these roles — and in some cases filling them with executives who were displaced by a merger at their last employer.
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The banking industry appears to be stuck when it comes to diversifying the leadership ranks.
February 15 -
Banks that previously based more of their incentive compensation decisions on loan production are recalibrating this year. It is the latest sign of how competitive the deposit market has gotten.
February 12
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Goldman Sachs, Capital One and New York Community Bank are shrinking their workforces, and other banks are planning to do the same. Whether such reductions become more widespread will depend largely on loan demand in 2023, according to analysts.
February 9 -
The bank was already mulling headcount and compensation reductions in early September.
February 9 -
A fraught but often-overlooked episode near the end of the retired baseball legend's life carries lessons and inspiration for financial professionals.
February 8 -
The bank's delay in investigating the case forced the plaintiff to resign from the bank in July 2021, according to the complaint. Wells said that it takes allegations of misconduct "very seriously."
February 8 -
Toronto-based BMO Financial is increasing the minimum wage of all U.S. hourly employees as the company begins its absorption of the recently acquired Bank of the West.
February 6 -
The nonprofit is entering phase two of its project with JPMorgan Chase intended to understand how conversational AI and emerging technologies can help low- to moderate-income consumers.
January 26 -
The banking industry pushed Congress to pass the Fair Hiring in Banking Act as part of last year's defense spending bill. But while banks and some public interest groups hailed the move, others say it doesn't go far enough.
January 13
