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Royal Bank of Canada's deal for City National showed that buyers will pay up for banks that cater to the wealthy. That's why First Republic, Boston Private and Signature Bank may soon find themselves facing offers they can't refuse.
February 6 -
JPMorgan Chase reported strong loan growth and higher utilization in its commercial banking unit, which serves midsize businesses. It could set the stage for others to report similar results. Still, low interest rates are muffling the benefits.
April 14 -
Mounting yet another defense of JPMorgan Chases size and scope, Chairman and CEO Jamie Dimon pointed out the fallibility of smaller banks in his annual letter to shareholders.
April 8
Boston Private Financial Holdings and its bank have shuffled some key executive posts.
The $6.9 billion-asset company said in a press release Wednesday that Mark Thompson would become its president, succeeding Clayton Deutsch, who will remain chief executive. Thompson, who is already the CEO of Boston Private Bank, will also join the company's board.
"For the next several years I am fully committed to the accelerated development of our national expansion strategy," Deutsch said in the release.
George Schwartz, formerly the bank's chief operating officer, will succeed Thompson as the bank's president. Anne Randall, the bank's chief financial officer, will become its chief operating officer.
The company also said that David Kaye, its treasurer and chief financial officer, had taken on the newly created post of chief administrative officer, where he will focus on corporate efficiency and effectiveness. In addition, Corey Griffin, Boston Private Financial's former head of corporate development and wealth management strategy, was named CEO of the company's investment management segment.
The bank also created a new position, tapping Jacqueline Shoback to become its chief client development officer, where she will oversee client acquisition in wealth management, trust and private banking. Prior to joining Boston Private, Shoback held posts at office supply retailer Staples, Fidelity Investments and TIAA-CREF.
Finally, the bank said that James Brown, director of commercial banking, will join its board.
Boston Private previously
