Corporate governance

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.

HSBC Holdings is exploring a sale of its operations in Canada, the latest move to streamline the lender that is seeking to head off a call by its largest shareholder to split up.

Canadian Imperial Bank of Commerce named Chief Risk Officer Shawn Beber as the new head of its U.S. division and tapped Susan Rimmer to lead the company's global corporate and investment banking franchise.

Financial institutions of all sizes — from JPMorgan Chase to SouthState to Fairwinds Credit Union — have reopened many branches, rolled out mobile banking units as well as reemployed pandemic-era digital and loan-forgiveness strategies in parts of Florida and South Carolina devastated by the powerful hurricane.

A new report from American Banker's parent company finds that traditional banks are vulnerable to competition from online banks and fintechs such as PayPal and Square. It recommends that banks build deeper relationships with small-business owners by adding more products to their traditional suite of offerings.

Societe Generale will appoint Slawomir Krupa as chief executive officer, favoring the investment bank chief over retail head Sebastien Proto after a close contest to replace outgoing boss Frederic Oudea. 

Bank of Nova Scotia shares are on pace for their worst year since 2008 as analysts warn of weakness in the Canadian lender's international business and uncertainty about the shake-up in its leadership.

With the island still feeling the effects of Hurricane Maria five years earlier, organizations like the Inclusiv Network and the National Credit Union Foundation are providing support to institutions and residents starting to rebuild.