Rick Simonetti knows it's not easy recruiting private bankers and then moving their clients and assets. That hasn't stopped him from building Fidelis Capital into a $3 billion firm built largely on bankers pulled from Wells Fargo and Bank of America.
There wasn't just one recipe for landing among the top-performing banks with $50 billion or more in assets. There were two — or, in some cases, a mix of both.
Drawing from both 9/11 and the 2023 Silicon Valley Bank failure, KBW's CEO Tom Michaud talks about the need to modernize deposit insurance to prevent digital bank runs.
Tioga-Franklin Savings Bank's failure is expected to cost the Deposit Insurance Fund $5.5 million. It is the fifth bank to fail this year, the most since 2023.
The Office of the Comptroller of the Currency has granted Sau Paulo-based Itaú Bank — the largest bank in Latin America — permission to set up shop in Miami.
The bank's decision to transfer two of its exchange-traded funds to the Texas Stock Exchange is an effort to better align the funds with their investment thesis, the bank said.
