Growth strategies

Citigroup CEO Jane Fraser says the company's abrupt decision to abandon a long-running sales process of its Mexican retail operations won't change its medium-term guidance nor the eventual plan to exit the unit and allows stock buybacks to resume.

The regional firm, whose parent is the 10th largest bank in the world by market capitalization, is eager to pitch top advisors seeking stability. At the same time, it's ramping up a major branding campaign with Major League Soccer and Apple to woo next-generation clients.

Wealth management lifted the firm's bottom line, as the unit's revenues rose 11% over the past year and it hauled in assets across multiple channels.

Bank regulators have historically neglected the needs of Black communities. Channeling funds to the banks that serve them would repair some of the damage.

Peapack-Gladstone Financial CEO Doug Kennedy is betting that giving his workforce the same hospitality training hotel employees receive will lead to better customer service and a healthier bottom line.

The merger of Columbia and Umpqua has created a $52 billion-asset bank rooted in the Pacific Northwest. CEO Clint Stein said the company has room to expand in California, Arizona, Colorado and Utah.

The Columbus, Ohio, bank hopes both to reduce costs and increase revenue by consolidating three segments into a single unit. Huntington is particularly focused on building out its wealth management business.

The San Francisco bank entered into a multiyear partnership with Choice Hotels, which operates brands such as Radisson, Comfort and Econo Lodge. The company had previously partnered on its credit cards with Barclays.

The two banks are now targeting May 27, three months later than their previous goal. The transaction, which would create a top-six U.S. bank by asset size, was originally expected to be completed last fall.

Primis Financial in McLean believes its multimillion-dollar investment in a subsidiary that makes online loans to doctors, dentists and veterinarians will begin paying off this year, after build-out costs weighed on the bottom line in 2021 and 2022.

After decades in public markets, the Rothschild dynasty — one of the most storied names in banking — has decided its flagship bank is best in private hands.

Toronto-Dominion Bank struck a deal to provide financial content for the immigrant-geared CanadaVisa website, part of its bid to win a greater share of the new Canadians who are an increasingly important source of growth for the country's big lenders.

From BNY Mellon to the mutual fund giant Fidelity Investments, BlackRock and Nomura Holdings, members of the Wall Street establishment are planning for a future in digital assets.

The Boston bank reported broad-based increases in loans during the fourth quarter, and said it's upbeat about its forecast for 2023. "I think the reason why we're comfortable is because we haven't changed our credit box at all," said CEO Nitin Mhatre.

The Evansville, Indiana, company introduced a boutique-style wealth management business called 1834, which caters to high-net-worth clients.

UBS Group doesn't plan to make the large-scale job cuts seen at global peers as the business of making investments for wealthy clients continues to see robust growth, Chief Executive Ralph Hamers said.

The U.S.-based cryptocurrency exchange Coinbase Global is closing the bulk of its operations in Japan as part of a move to adjust international investment amid a slump in the digital-asset sector.

Mitsubishi UFJ Financial Group is in talks to invest about $200 million in Akulaku, an Indonesian online lender backed by Jack Ma's Ant Group, according to people familiar with the matter.

The payments firm is staffing up as it accelerates its expansion in the U.S., and anticipates a pool of available tech workers.