Industry News
Valuations for payment technology companies skyrocketed over the past year, pushed by a wave of public listings and record venture capital investments. Some potential acquirers are waiting for prices to cool.
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Derek Flowers, a 24-year company veteran, will replace the retiring Amanda Norton. Flowers' familiarity with the megabank's operations will help as it continues working through regulatory consent orders, CEO Charlie Scharf said.
January 18 -
Citigroup CEO Jane Fraser is nearing the end of her organizational overhaul after deciding to cut loose retail-banking operations in Mexico. She will make the case at an upcoming investor day that the company is on the verge of producing stronger shareholder returns.
January 14
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Citigroup announced Tuesday that it plans to exit retail banking in Mexico, less than a year after Fraser said “there’s a lot to like in the franchise over the longer term.” She explains her new thinking.
January 11 -
The Louisiana-based company is among a growing number of community banks that have taken on new talent in the wake of competitors' consolidation.
January 11 -
Chief Audit Officer Denise DeMaio will join Truist from MUFG, while Chief Information Security Officer Howard Whyte has experience at Boeing, Goldman Sachs and the FDIC.
January 11 -
Billions of government and corporate dollars are pouring into minority banks and community development lenders, complicating the efforts of some investment funds that had similar goals. Still, banks owned and run by African Americans say the equity infusions are small in the context of the nation’s wide racial wealth gap.
January 10 -
The largest U.S. bank by assets is declining to institute a companywide mandate like Citigroup and is instead tailoring its rules to local requirements.
January 10 -
A new group within the Alabama company's equipment finance subsidiary will be led by Jay Cannon, who recently left U.S. Bancorp.
January 6 -
Gaye Erkan was widely seen as the front-runner to succeed founder James Herbert. Following her abrupt departure, the San Francisco bank must decide whether to find its next leader internally or recruit an outsider.
January 4
