Corporate governance

Societe Generale will appoint Slawomir Krupa as chief executive officer, favoring the investment bank chief over retail head Sebastien Proto after a close contest to replace outgoing boss Frederic Oudea. 

Bank of Nova Scotia shares are on pace for their worst year since 2008 as analysts warn of weakness in the Canadian lender's international business and uncertainty about the shake-up in its leadership.

With the island still feeling the effects of Hurricane Maria five years earlier, organizations like the Inclusiv Network and the National Credit Union Foundation are providing support to institutions and residents starting to rebuild.

These 10 large banks posted superior returns between 2019 and 2021.

Western Alliance, in its first appearance on the list of leading banks with more than $50 billion of assets, landed at No. 1. The Phoenix company and the other top performers in this class have either created niche businesses, made acquisitions or done both.

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.