Mahesh Aditya will immediately take over risk management for the U.S. subsidiary of Banco Santander, which is trying to turn the corner after several tough years on the regulatory and financial fronts.
It's time for banks to get their mojo back. In a world of little mercy and even littler margins, we have watched them retrench, chasing ever-stricter economies to protect their bottom lines. But there is only so far you can tighten your belt before something spills out. And this is not an outcome banks can afford.
MapleMark Bank, which was known as First National Bank of Edgewood when it was bought by an investment group last year, will use the funds to support commercial lending and private banking.
A first-in-the-nation ballot initiative would give consumers more control over their personal information, but banks and other companies say that it would amount to a tax on doing business in the Golden State.
Banks were helped by better loan spreads thanks to higher net interest margins, but the recently enacted tax cut helped boost profits by 27% from a year earlier.
