In January, Sir Fred Goodwin officially departs Royal Bank of Scotland. His successor is Stephen Hester, who has hinted that some U.S. operations may get sold, such as Citizens Financial Group, led by Ellen Alemany, and RBS Greenwich Capital.

Cece Sutton, the former head of retail and small-business banking at Wachovia Corp., will become president of the retail banking group at Morgan Stanley, and Jonathan W. Witter, also from Wachovia, will become the COO of the group.

Peter Hancock joined KeyCorp as a vice chair. He will lead Key's National Banking organization.

UBS's Raoul Weil, CEO of global wealth management and business banking, has been indicted by a grand jury in the U.S. in connection with the ongoing investigation of UBS's U.S. cross-border business by the United States Department of Justice.

PNC Global Investment Servicing announced that Nancy B. Wolcott has been named president.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.