Corporate governance

A combination of higher organic loan growth and fee-based revenue streams powered top-performing banks in 2021.

State Bankshares in North Dakota was the top performer in the $2 billion to $10 billion asset class in 2021, according to Capital Performance Group. Strong commercial lending, a national mortgage business as well as regional wealth management and insurance units offer diverse sources of growth, a company executive says.

The top 20 banks with assets of $2 billion to $10 billion outshined their peers in loan and revenue growth while maintaining pristine credit quality in 2021, according to a new ranking. Can they do the same this year as recession clouds gather?

Elliott Investment Management is holding discussions with PayPal Holdings over an agreement that would see the activist investor have a hand in determining the future direction of the company, according to people familiar with the matter. 

With Ulrich Koerner taking over as chief executive officer, Credit Suisse Group’s top ranks are looking more like UBS Group, suggesting the firm may draw from its crosstown rival’s playbook.

Visa said it will hand out annual raises for more-junior employees earlier as it seeks to help staffers battling once-in-a-generation levels of inflation.

Credit Suisse Group plans to announce the departure of Chief Executive Thomas Gottstein, The Wall Street Journal reported, part of efforts to turn around the struggling company. 

Banco Santander was eliminated from the bidding process for Citigroup’s Mexican unit, opening the way for a takeover by a local rival.

The latest expense guidance also stems from rising operating losses at the North Carolina bank. Cost-cutting was a key rationale for the 2019 merger of BB&T and SunTrust, which created Truist.

Goldman Sachs Group plans to slow hiring and reinstate annual performance reviews as the Wall Street bank looks to rein in expenses.