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Michael Nathans
Trycera Financial, Inc., Annapolis, Md.
Rick Simonetti knows it's not easy recruiting private bankers and then moving their clients and assets. That hasn't stopped him from building Fidelis Capital into a $3 billion firm built largely on bankers pulled from Wells Fargo and Bank of America.
There wasn't just one recipe for landing among the top-performing banks with $50 billion or more in assets. There were two — or, in some cases, a mix of both.
Drawing from both 9/11 and the 2023 Silicon Valley Bank failure, KBW's CEO Tom Michaud talks about the need to modernize deposit insurance to prevent digital bank runs.
Tioga-Franklin Savings Bank's failure is expected to cost the Deposit Insurance Fund $5.5 million. It is the fifth bank to fail this year, the most since 2023.
The Office of the Comptroller of the Currency has granted Sau Paulo-based Itaú Bank — the largest bank in Latin America — permission to set up shop in Miami.
The bank's decision to transfer two of its exchange-traded funds to the Texas Stock Exchange is an effort to better align the funds with their investment thesis, the bank said.
