Corporate governance

From BNY Mellon to the mutual fund giant Fidelity Investments, BlackRock and Nomura Holdings, members of the Wall Street establishment are planning for a future in digital assets.

Stripe, one of the world's most valuable startups, has hired JPMorgan Chase and Goldman Sachs Group as it explores options for raising liquidity.

The Boston bank reported broad-based increases in loans during the fourth quarter, and said it's upbeat about its forecast for 2023. "I think the reason why we're comfortable is because we haven't changed our credit box at all," said CEO Nitin Mhatre.

Market professionals and day traders are rattled and waiting for the exchange to elaborate on what it publicly called a "manual error" involving its "disaster recovery configuration."

Almost a fifth of U.S. banks are offering savings rates of 2% or more, a huge spike from a year ago, according to new data. Banks are paying more out of fear their customers will flee to competitors offering higher rates.

The Evansville, Indiana, company introduced a boutique-style wealth management business called 1834, which caters to high-net-worth clients.

Digital Currency Group, the struggling crypto empire whose Genesis Global Capital lending unit is trying to stave off bankruptcy, said it's suspending quarterly dividends to preserve cash.

UBS Group doesn't plan to make the large-scale job cuts seen at global peers as the business of making investments for wealthy clients continues to see robust growth, Chief Executive Ralph Hamers said.

JPMorgan Chase, Wells Fargo and the Bank of New York Mellon all announced plans to restart or increase their buybacks this year after a sharp drop-off in 2022. Bank of America's CEO also said the company is "back in the game."

The New York bank, which recorded an 8% increase in expenses last year, projects that they will rise by 5% in 2023. Other megabanks are also contending with higher costs.