Corporate governance

Six years after buying a bank, the New York company plans to sell its banking unit to a group of investors. The decision to refocus on its core businesses comes 18 months after Thasunda Brown Duckett took the reins as CEO.

Stripe, one of the world's most valuable startups, will cut more than 1,000 jobs as it seeks to rein in costs ahead of any economic downturn.

The cryptocurrency conglomerate Digital Currency Group promoted Mark Murphy to president from chief operating officer as part of a restructuring that saw about 10 employees exit the company.

The board of the Federal Deposit Insurance Corp. is required by law to have a member with state bank supervisory experience. That perspective has been absent for too long.

Traditional banks are focusing on wealth management services in the next wave of digitization as retail banking returns weaken amid a proliferation of online consumer platforms.

Credit Suisse Group reported its fourth straight loss as its investment bank continued to struggle, wealthy clients fled and the lender booked a charge related to a critical overhaul that's been in the making for months.

Credit Suisse Group said that Michael Klein is expected to become chief executive of the spun-out First Boston unit, as a result of the radical restructuring of the Swiss lender's investment bank. 

The Indiana company reported strong growth in profits and loan income, and it hopes its addition of more than two dozen wealth management and commercial banking specialists will help beef up what one analyst called "softer than expected" noninterest income.

HSBC Holdings named Georges Elhedery as its new chief financial officer, setting up the bank's former markets boss as a potential front-runner to eventually replace CEO Noel Quinn.

CEO Rob Holmes says that much of the Dallas company's increased spending is now in the past. But meeting the bank's targets is "a complete show-me story," one analyst said.