Corporate governance

The country's Big Six banks are seen as likely to continue struggling as they contend with deteriorating consumer finances and rising internal costs.

The brokerage plans to cut staff and close or downsize offices in response to investor pressure.

The New York megabank is considering splitting its institutional clients group division into three parts following the upcoming departure of top executive Paco Ybarra, the Financial Times reported. The heads of the three segments would report directly to CEO Jane Fraser.

JPMorgan Chase, Wells Fargo and TD Auto Finance all see opportunities in providing financing to dealers for inventory, the purchase of competitors and the addition of infrastructure for electric vehicle sales. Two other banks recently said they're exiting the business, which could provide a further opening.

The bankrupt former parent of Silicon Valley Bank is losing $9 million a month in interest on deposits that were trapped when federal regulators took over the failed bank.

Thomas O'Brien has gained a reputation for being able to salvage institutions on the brink of disaster. With his latest rescue job nearly complete, the fix-it specialist ponders his next move.

In the wake of destruction across Maui, financial institutions based inside and outside of Hawaii are establishing support programs, raising relief funds and facilitating donations of food and clothing.

The real threat is from undercapitalized banks, and regulators must require large banks to have enough capital to eliminate that threat.

Ybarra, who leads the megabank's sprawling institutional clients group, plans to depart in the first half of next year. Citi says it's assessing how to allocate his responsibilities.

The five-year employment agreement with CEO Bryan Jordan follows a failed acquisition effort by TD Bank. The deal suggests that Jordan is seen as critical as the Memphis, Tennessee-based bank charts an independent course in the coming years.