MOUNTAIN VIEW, Calif. First Tech FCU reported a 51% increase in net income for 2012 to $62.8 million, giving the $5.6-billion credit union for Silicon Valley workers a 1.15% return-on-assets.
Assets rose 9.3% and loans grew by 15.6% to $3.3 billion in 2012. Net worth at the end of 2012 was 9.6%.
First Tech FCU serves many of Silicon Valley’s biggest tech companies, including HP, Microsoft, Agilent, Intel, CISCO, Amazon, Nike, CH2M Hill, Intuit and Google.
The Senate Banking Committee voted 13-11 to favorably recommend Stephen Miran's nomination for the Federal Reserve Board to the full Senate.
The U.K.-based super app expanded its partnership with Google Cloud as it looks to advance account-to-account payments; Global Payments launches Genius platform in the U.K.; and more in this week's global payments roundup.
At a hearing on deposit insurance reform, Republican lawmakers concluded that only the largest banks would oppose a proposal to raise insurance for business accounts to $20 million.
For the first time, this list of banking's rising stars aged 40 and younger is presented in ranked order, highlighting the depth and performance of the industry's top talent.
Christine Ferris, recently appointed Head of Securitized Products at SMBC Nikko Securities America after leading CLO Primary at JPMorganChase.
Levine built BNP Paribas' cash equities business three years ago and now trades billions of dollars daily for clients.
