Corporate governance

The San Francisco bank announced the hiring of a nine-member team led by Merrill Lynch veterans Harold Reinstein and Michael Nelson. First Republic reported 26.4% growth in wealth management revenue during the second quarter.

Bank of Nova Scotia's surprise pick of a CEO from outside its executive ranks is sparking a debate over whether major changes will result at Canada's third-largest lender.

Five days after the storm, Puerto Rico's largest bank is operating more than 90% of its branches, even though almost 60% of households are without power. Diesel-powered generators are a key reason why.

Klarna Bank, months after announcing major job cuts and taking a $39 billion hit to its valuation, is planning to restructure parts of its business further to suit a slower-growing, smaller operation, people familiar with the matter said. 

These standout performers all reported a three-year return on average equity above 14%. Two of them topped 20%.

Citigroup is targeting India as one of its top markets to expand in globally as risks mount in China and other regions, the bank's global co-head of investment banking said.

Leading institutions with assets between $10 billion and $50 billion say growth strategies outside their traditional geographic bounds drove strong returns in 2021 and have steeled them for this year's challenges.

The company says it will streamline its United Kingdom operations to focus on private banking and wealth management to serve affluent clients in that market.

Credit Suisse Group denied it's considering exiting the U.S. market following a Reuters report that the Swiss bank was weighing such a withdrawal for its investment bank.

After a bruising proxy fight that led to the ouster of the Philadelphia bank's former chairman and CEO Vernon Hill, remaining stakeholders find themselves in disagreement over a potential sale of the the company.

The Phoenix bank is forming an executive leadership team that it said will ensure continuity within its senior ranks. The moves come five months after CEO Kenneth Vecchione received a contract extension through at least 2024.

Citigroup is seeking 400 more staff for its Belfast office as it expands rapidly outside of London, according to a senior executive at the bank.

President Andres Manuel Lopez Obrador is making it very difficult for Citigroup to fetch a price even vaguely close to the $12.5 billion it paid for the bank two decades ago. 

Since last year, banks have sharply reduced what they charge when consumers spend more money than they have, according to new research. Monthly maintenance charges and fees for using out-of-network ATMs have remained much more stable.

Three New York City pensions filed shareholder proposals with Mastercard and American Express urging the credit card companies to improve tracking of gun sales.

The Securities and Exchange Commission is facing a legal challenge from groups that argue rules meant to diversify the boards of banks and other publicly traded companies amount to discrimination.

The megabank had previously announced plans to shed consumer and commercial banking units in Russia, which invaded Ukraine in February. The revised plan is expected to cost about $170 million over the next year and a half.

Goldman Sachs Group is reconsidering how to launch a long-delayed product for the masses as senior executives wrestle with cost overruns.

Credit Suisse Group is shifting resources in the pursuit of business from a broader range of rich clients, as the lender focuses more on wealth management amid cuts to its troubled investment bank. 

Conversations with about a dozen Credit Suisse dealmakers, traders, financiers and wealth advisors depict a unit girded for a reckoning.