Growth strategies

Elliott Investment Management is holding discussions with PayPal Holdings over an agreement that would see the activist investor have a hand in determining the future direction of the company, according to people familiar with the matter. 

Banco Santander was eliminated from the bidding process for Citigroup’s Mexican unit, opening the way for a takeover by a local rival.

The New York megabank has a long way to go on its path toward simplification of its business, but some early investments — such as technology upgrades in the treasury unit, which serves commercial customers — are starting to pay small dividends.

The boss of the U.K. digital bank Monzo Bank said he’s targeting growth rather than immediate profit during a turbulent time for the fintech industry, after nearly doubling annual revenue while widening losses.

The Nashville bank has recruited a veteran commercial lender in Asheville who had worked with First Horizon, and it has hired four more bankers in Chattanooga.

It took 100 years, but St. Landry Homestead Federal Savings Bank decided on a drastic name change — to Catalyst Bank — to end confusion with a local rival and signal its loftier aspirations.

A new and larger finance industry is emerging — one in which traditional institutions aren’t nearly as dominant as they used to be.

Goldman Sachs Group plans to anchor a new office tower in Dallas that would hold thousands of employees, part of the bank’s expansion beyond its Manhattan base.

Canadian Imperial Bank of Commerce expects its U.S. commercial banking and wealth management business to provide the fastest sales growth over the next three years.

VersaBank, which recently announced a deal for a tiny Minnesota bank, says volatility will increase demand for its loans. “Traditionally, we’ve grown rapidly when our point-of-sale financing partners have trouble raising financing,” said CEO David Taylor.