Industry News
In a survey last month, only one in 10 chief executives identified mergers as their top priority, while 77% pointed to organic growth. The sparse interest in dealmaking may be due to volatile markets, along with slower approvals from regulators.
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Gibbons, who became CEO of Bank of New York Mellon in 2019, is retiring on Aug. 31. Robin Vince, who leads the trust bank's global market infrastructure division, will be his successor.
March 10 -
Lynn Fuller, whose family has held leadership roles at the Iowa bank for nearly 60 years, blasted a plan to consolidate the company’s 11 banking charters and advocated for the sale of the organization.
March 9
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Key advocacy organizations are negotiating a community benefits agreement with Minneapolis-based U.S. Bancorp. Until a deal is reached, they are vowing not to back approval of the $8 billion acquisition.
March 8 -
The Columbus, Ohio, bank plans to cut the price to consumers who spend more than they have from $36 to $15. In another change designed to help customers who live paycheck to paycheck, it will start offering instant access to check deposits.
March 8 -
The $7.6 billion deal was originally expected to close in the fourth quarter of last year, but the banks had pushed back their deadline until June. Once the merger is complete, the combined bank will have more than $200 billion in assets.
March 4 -
Titi Cole will run the megabank’s legacy franchises division, which contains consumer businesses that Citi is looking to sell or wind down in other countries. The exits are part of CEO Jane Fraser’s efforts to reshape the bank.
March 2 -
The Columbus, Ohio, bank has agreed to buy an investment banking and advisory firm that caters to midsize companies to "accelerate" the growth of its capital markets unit.
March 1 -
The Canadian banking giant established a nine-month window to finish its $13.4 billion purchase of First Horizon, which could be challenging given the tighter regulatory scrutiny of bank M&A. After November, the price tag will go up.
February 28 -
Industry groups are adamant that regulators must make it easier for banks to merge in order to compete with nonbanks, while consumer advocates say bank mergers are too easy and hurt the consumer beyond raising the price of credit.
February 28
