The arrival of James Gorman as the new CEO of Morgan Stanley has led to several executive moves. The institution has given Thomas Nides, chief administrative officer, more technology and operations responsibility. Jim Rosenthal, who had been head of technology and operations, will be COO of Morgan Stanley Smith Barney and head of corporate strategy. The Payments Processing Information Sharing Council has appointed vocal council advocate and Heartland Payments Systems chair Bob Carr as committee chair. Other members include Rick Van Luvender, director of InfoSec Incidence Response, who was named vice chair. Fiserv vp of industry relations Stuart Williams was elected vice chairman of NACHA's council for electronic billing and payments. Jim Fitzpatrick is Experian's new CIO, joining Experian from Integnology, where he was COO. Algorithmic trading tech firm Progress Software has named John Bates CTO.
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Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
10h ago -
The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
11h ago -
The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
April 25 -
Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
April 25 -
Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
April 25 -
The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
April 25