Industry News
Financial terms of the Rhode Island bank’s agreement to acquire Paladin Advisors were not disclosed. Paladin is expected to join a division that grew out of a 2018 deal for Clarfeld Financial Advisors.
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Credit unions generally struggle to make agricultural loans because the market is saturated by more experienced lenders. But they can develop the expertise — or acquire it through M&A.
July 13 -
Wells Fargo CEO Charlie Scharf hired Mike Weinbach in 2020 as part of a broader organizational shake-up. The former JPMorgan Chase executive is leaving in mid-September as the consumer lending group transitions to a new leader.
July 11
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Spiking interest rates, increased regulatory scrutiny, and mounting recession fears have all contributed to a deceleration in mergers in 2022.
July 10 -
AB - TechnologyThe bank has set up an online “education center” for consumers, dealers and more that walks people through the charging process and helps buyers estimate ongoing costs.
July 8 -
The bank began trimming its payroll after a dismal first-quarter origination performance. It will announce second-quarter results next week.
July 6 -
Dermot McDonogh will be the custody bank's chief financial officer, as incoming CEO Robin Vince starts making his mark. The two each spent more than two decades at Goldman Sachs.
July 6 -
The Tokyo-based company has named Masatoshi Komoriya executive chairman of the board of directors for MUFG Americas Holdings Corp. and its U.S. banking subsidiary. He begins his new role on June 30 while retaining existing executive duties.
June 28 -
The two megabanks said that their capital requirements will rise in the wake of Federal Reserve stress tests, putting downward pressure on their distributions to shareholders. Meanwhile, Bank of America, Wells Fargo, Goldman Sachs and others announced plans to raise their dividends.
June 27 -
The New York megabank’s decision, which takes effect on July 1, emerged on the same day that the Supreme Court overturned Roe v. Wade. JPMorgan Chase is following the lead of Citigroup, which announced a similar policy at the start of the year.
June 24
