Corporate governance

The Cleveland bank expects to lose about $25 million in fee income per quarter as a result of recent changes to its overdraft policies. CEO Chris Gorman said Key plans to compensate by expanding its customer base.

Deutsche Bank laid off dozens of origination and advisory staffers within its investment banking division globally as fears of a recession stymie dealmaking, according to a person with knowledge with the matter.

Rather than trying to reach the masses, which proved to be expensive, Goldman is focusing on marketing its online banking platform to its existing pool of wealth management clients. The investment bank has learned that it's "better to play to our strengths," CEO David Solomon said Tuesday.

Goldman Sachs Group's traders once again helped rescue results from a sharp slowdown in investment banking just as the firm prepares for a reorganization that will combine the two business units

Its investment banking and corporate lending revenues dipped during the third quarter, while treasury services and branded cards were bright spots. That formula will be tested by "rolling, country-level recessions" across the globe, CEO Jane Fraser predicts.

The San Francisco bank tallied $2.2 billion in net operating losses, higher than in any quarter since late 2017. The charges offset what otherwise would have been a strong third-quarter performance.

Mitsubishi UFJ Financial Group plans to accelerate lending to global funds and other institutional investors in the U.S., as it moves to overtake Goldman Sachs Group this year in loans syndicated in the world's biggest economy. 

Royal Bank of Canada expects to gain more market share in the U.K. wealth management business in the years ahead, with its technological capabilities key to attracting clients.

Some online banks are offering the highest rate on savings accounts only to new customers. The strategy could suppress deposit costs at a time when the Federal Reserve's aggressive rate increases have begun to put pressure on expenses.

The Society for Worldwide Interbank Financial Telecommunications said its new capability, which lets users track trades from order to settlement, will be broadly available next year.