Commercial banking

Generative artificial intelligence could streamline numerous operations across the financial services landscape, from building investor presentations to processing regulatory and legal documents.

Jim Esposito, one of Goldman Sachs Group's most senior executives, is leaving after almost three decades with the firm.

Cullen/Frost in Texas, BankUnited in Florida and Bank OZK in Arkansas are among the banks that have, at least for now, allayed investors' fears about their exposure to the CRE sector.

Ten months after the Raleigh, North Carolina, company acquired a large chunk of Silicon Valley Bank, it says it is seeing good progress in keeping and winning back the latter's former customers. But the ongoing slowdown in private equity and venture capital activity will challenge the unit's growth.

Workers are eligible for the one-time cash grants if they earned a salary of less than $75,000 last year, and their total cash compensation was less than $85,000. The payments come amid a unionization push at the San Francisco-based megabank.

The Los Angeles company has sold $6 billion of loans and securities since buying PacWest in November. CEO Jared Wolff said it might get smaller still as it strives to boost profitability.

Several of the company's top leaders, including Jennifer Piepszak, have been given new duties in CEO Jamie Dimon's latest management reorganization. Piepszak and JPMorgan President Daniel Pinto are among those viewed as potential successors to long-serving Dimon.

Williams, who died this week at age 90, was CEO of SunTrust — one of the banks that would become Truist — for many years. He also served on the boards of several organizations in Atlanta, including Coca-Cola.

The Oklahoma-based regional bank expects 6%-7% loan growth in the year ahead. Executives are also projecting that net interest income will start to improve after the metric hits a trough early this year.

After California was hit hard by the banking crisis of 2023, tens of thousands of commercial and consumer customers turned to East West, helping the company achieve record full-year revenue, its CEO says.