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Citigroup is planning a 500-person hiring spree over the next three years for a new wealth division catering to junior employees at private equity offices, consultancies and accounting firms, betting those clients will someday join the ranks of the ultrawealthy. 

As the industry manages high turnover, more companies are expressing dissatisfaction. Among firms that switch to a new bank, the previous bank's lack of knowledge about their business is an increasingly common reason, according to a recent survey.

Within two years, the credit-card company expects to employ more than 1,000 people from a historically disadvantaged part of the city.

The San Francisco megabank plans to reinstate guidance that drew scrutiny following revelations that women and nonwhite candidates were interviewed for jobs that had been reserved for someone else.

Twitter subpoenaed records from Morgan Stanley and other financial firms as part of its legal fight with Elon Musk over his canceled $44 billion acquisition of the social media platform.

Previously, many credit union CEOs were hired because they worked for the institution’s sponsor. Today the industry has become far more complex, and boards find they have to pay up to recruit candidates who can meet these demands.

Citigroup’s Mexican unit, Banamex, is likely to attract offers of about $7 billion to $8 billion as the field of bidders narrows, according to people familiar with the matter.

The effort, spearheaded by Democratic Sen. Mark Warner and Republican Sen. Mike Crapo, is the latest sign of the community development industry’s rising political prominence in Washington.

Monetary policy has a more significant impact on spending of U.S. households headed by white women than on those led by white men or Black men and women, the Federal Reserve Bank of San Francisco said.

The allegations by Rep. Patrick McHenry and others were a response to a CFPB interpretive rule, even though states use their own laws prohibiting unfair and deceptive acts and practices.