Corporate governance

Canadian Imperial Bank of Commerce expects its U.S. commercial banking and wealth management business to provide the fastest sales growth over the next three years.

VersaBank, which recently announced a deal for a tiny Minnesota bank, says volatility will increase demand for its loans. “Traditionally, we’ve grown rapidly when our point-of-sale financing partners have trouble raising financing,” said CEO David Taylor.

The Dallas bank is joining the branch-consolidation trend that has accelerated during the pandemic, announcing plans to shutter 22 branches in Michigan, Texas and California.

The North Carolina bank’s wealth arm now operates in nine of the 10 largest U.S. markets.

John Madigan, a Citigroup veteran, is leading one of five new private-client banking groups at Signature Bank. The moves are designed to enable the company to expand its footprint throughout metro New York.

The Pittsburgh company is adjusting the structure of a unit that has a national reach following the acquisition of most of BBVA’s U.S. operations. PNC has also named Jennifer Lee as the private bank’s head of U.S. markets.

Credit Suisse Group Chief Executive Thomas Gottstein batted away questions on whether the bank is a takeover target and said he’s still holding out hope for a profitable second quarter.

PayPal Holdings will let users transfer certain cryptocurrencies to other customers, exchanges and external wallets, a new service that’s part of the company’s effort to boost use of its app.

Citigroup plans to hire more than 4,000 tech staff to help move its institutional clients online in the wake of the pandemic.

Citigroup may record losses of at least $50 million following a London staffer’s fat-finger trade that caused a flash crash in European stocks last month, according to people familiar with the matter.