JPMorgan eyes European digital bank expansion

JPMorgan eyes European digital bank expansion: FT

Published June 19, 2026 10:00 AM

1 Min Read

In this week's banking news roundup:

JPMorganChase aims to expand its digital bank offerings in Europe, according to a new report in the Financial Times.
M&T Bank Corp. taps Jerry Jacobs Jr. to the board of directors of both its parent and banking subsidiary.
Citizens Financial Group names Chris Emerson as head of investor relations; and more.

JPMorganChase wants to expand its digital bank in Europe: report

JPMorganChase, which operates its digital bank in Germany and the United Kingdom, would like to expand the offering into at least three more countries within the next five years, according to a report in the Financial Times citing anonymous sources.

The largest U.S. bank by assets launched its digital bank, Chase, in the U.K. in 2021, marking its first retail foray outside of the United States, after years of doing commercial and investment banking in the U.K. Last month, it began offering Chase in Germany, starting with a fee-free digital savings account that's available on the bank's mobile app.

In a press release announcing the savings account in Germany, the bank said that it plans to "launch a robust portfolio of services, including current accounts, investments and lending products" in Germany by 2028.

According to the Financial Times article, potential countries where JPMorgan may expand are Spain, France and Italy. —Allissa Kline

M&T Bank elects CEO of Delaware North to boards

M&T Bank Corp. has elected Jerry Jacobs Jr., the CEO of Buffalo-based hospitality and entertainment giant Delaware North, to the board of directors of both its parent and banking subsidiary M&T Bank, effective immediately.

Jacobs brings extensive leadership experience to the role. At Delaware North, he co-manages a vast portfolio spanning sports venues, parks, resorts, gaming, and food service, while also serving as an alternate governor for the Boston Bruins, which is owned by the Jacobs family. He is the eldest son of Delaware North Chairman Jeremy Jacobs, continuing a multigenerational legacy in the Western New York business community. —Kate Berry

Citizens Financial names new head of investor relations

Citizens Financial Group appointed Chris Emerson as the head of investor relations, effective Aug. 1, as Kristin Silberberg, who has held the job for the past six years, moves into a different role at the Providence, Rhode Island-based bank.

Emerson will maintain his current role as the head of corporate planning and enterprise finance, with responsibility for financial planning and analysis, the $227.9 billion-asset bank said in a press release. He joined Citizens in early 2016 as the chief financial officer of the consumer bank, and previously worked at Capital One, Barclays and Citi, according to his LinkedIn profile.

Silberberg will become the CFO of Citizens' commercial bank. Prior to joining Citizens in 2020, Silberberg worked at JPMorganChase for more than 17 years. —Allissa Kline

JPMorgan’s Vince La Padula to join IRS after 23 years at bank

JPMorganChase's Vince La Padula, who led the firm's workplace solutions business, will leave the bank after more than two decades to take a senior role at the Internal Revenue Service.

Ben Walter, who previously oversaw Chase for Business within the firm's consumer and community banking arm, will take over as head of the workplace solutions operation, according to an internal memo Thursday.

President Donald Trump's administration has pulled from the finance industry to bolster its ranks. He tapped hedge fund manager Scott Bessent to run the Treasury Department. Ben Black, the son of Apollo Global Management co-founder Leon Black, now works as chief executive officer of the U.S. International Development Finance Corp. Last year, Trump tapped Frank Bisignano to lead the IRS as CEO, a new position at the agency.

In the memo Thursday, Mary Callahan Erdoes, the longtime head of JPMorgan's asset and wealth management business, called La Padula an "exceptional leader" and wished him luck in his next role. —Hannah Levitt, Bloomberg News

RBC hires former StoneX executive for new digital assets role

Royal Bank of Canada hired Brian Mulcahy to lead digital asset strategy in its global markets business, the latest move by a bank to dive deeper into the asset class.

In the newly created role, Mulcahy will be based in New York and work closely with teams across RBC Capital Markets and the broader company, according to a memo seen by Bloomberg News. He'll report to Matthew Ouderkirk, who's joining in August as chief operating officer of the global markets business.

Mulcahy was most recently chief executive officer of StoneX Digital, which helped StoneX Group's institutional clients get access to digital asset markets. He built and led the business from inception, according to the memo.

"Brian's experience and leadership will serve us well as we build out our capabilities and shape what's next for digital assets in RBC Capital Markets," Jonathan Hunter, head of global markets, said in the memo. "I am confident he will add momentum to this work." —Yizhu Wang, Bloomberg News

TD taps Charney as president of securities business in reshuffle

Toronto-Dominion Bank is promoting Dan Charney to president of its capital markets business as Larry Wieseneck plans to step down as head of corporate and investment banking next year.

Charney, who is currently head of TD Securities' global markets business, will continue in that role and also take on global research and senior relationship management, according to a memo Tuesday from Tim Wiggan, the chief executive officer of TD Securities and group head of wholesale banking at the firm. Charney will continue to report to Wiggan, according to the memo.

Meanwhile, Wieseneck will become chairman of TD Securities after deciding "to start a new phase in his career," Wiggan said.

"Larry will continue to provide strategic counsel, strengthen key client relationships, and help shape the priorities that will define our next phase of growth," Wiggan said.

Charney and Wieseneck both joined the Canadian lender when it acquired Cowen in 2023 and quickly gained significant influence within the capital-markets franchise. —Christine Dobby, Bloomberg News