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The consulting giant's annual global banking review highlights a stark trend: Over a seven-year period, more than 70% of the net increase in financial assets ended up not on U.S. banks' balance sheets, but instead at insurance and pension funds, sovereign wealth funds, in private capital markets and elsewhere.
October 12 -
Peoples Financial Services has agreed to pay $129 million of stock for FNCB Bancorp. Peoples' CEO Craig Best would lead the combined company for a year after the merger closes, and then Gerard Champi, FNCB's current chief, would take over.
September 28 -
As part of the changes, the Spanish bank is combining individual countries' retail and commercial banking businesses under a new global unit, which will be headed by Daniel Barriuso, and creating a new digital consumer bank area that will be led by Jose Luis de Mora.
September 18 -
Instead, the Canadian bank will try to ramp up its current strategy, which includes growth in commercial lending and technology upgrades, as well as streamline management.
September 14 -
After taking incremental steps to bolster its wealth management business, the Rhode Island bank is preparing to roll out a broader strategy focused on high-net-worth clients.
September 11 -
Chief Executive Rob Holmes, who launched an attempted turnaround shortly after taking the reins of the Dallas-based bank in 2021, is resisting the lure of share buybacks. Some investors may be growing impatient, but Holmes says the investments he's made are starting to pay off.
September 6 -
Consistent wins aren't typically about continuously introducing novel strategies, but about better and more consistent execution with proven ones.
August 29 -
JPMorgan Chase, Wells Fargo and TD Auto Finance all see opportunities in providing financing to dealers for inventory, the purchase of competitors and the addition of infrastructure for electric vehicle sales. Two other banks recently said they're exiting the business, which could provide a further opening.
August 15 -
Big Poppy Bancorp has applied to the Federal Reserve to acquire up to 24.99% of Summit State Bank. Both institutions are headquartered in Santa Rosa. Combining them would create the city's biggest bank.
July 28 -
Citizens made waves with its hires of around 50 private banking staff from First Republic. The head of wealth management at Citizens shared what's next.
July 3