Commercial banking

The Toronto-based bank named Rahul Nalgirkar as incoming finance chief. Nalgirkar, who joined BMO in 2022 from Fifth Third, will succeed the retiring Tayfun Tuzun, who came to BMO in 2020 after working at Fifth Third.

The Denver-based bank-holding company's pending acquisition of Vista Bancshares in Dallas is an opportunity to expand into key fast-growing Texas markets and deepen its talent bench, CEO Tim Laney told analysts.

The bank's senior leadership is seeking a solution to perhaps its biggest challenge in over a decade: A $26 billion increase in capital requirements leveled by its home government, Switzerland. 

Taylan Turan, who was previously HSBC Holdings' global CEO of retail banking, will join the Canadian bank later this month as chief operating officer.

CEO Curtis Farmer tried to assure skeptics Tuesday that the Dallas-based bank is focused on shareholder value and profitability, even as an activist investor group prepares to launch a board fight.

The superregional bank, which pulled the plug on bitcoin custody services in 2022, is reintroducing those services following the demise of an unfavorable SEC rule.

As the holiday shopping season approaches, retailers are grappling with how to optimize their inventory and set prices amid higher tariffs. A new Wells Fargo report sheds light on how businesses are adapting.

On Thursday, the two banks disclosed a presentation that seeks to reinforce the strategic rationale behind the proposed $8.6 billion deal.

The Canadian bank's stateside unit is hiring bankers and investing in growth, according to RBC Chief Executive Dave McKay, following a rough 2023.

Data suggests that the beleaguered commercial real estate market isn't going to get worse. And now that banks have had time to build reserves, any losses they do take shouldn't be disastrous, analysts say.

Aron Levine, the Canadian bank's new U.S. president, said BMO intends to invest in technology and spend more on branches. The company's moves, which also include the recent combination of its U.S. businesses, are part of a plan to boost its return on equity.

Erik Porter will succeed Lisa Oliver as president and CEO of the Cooperative Bank of Cape Cod; Gary Hall and Sobani Warner are named co-presidents of Siebert Williams Shank; Faiz Ahmad and Mike Joo will lead Bank of America's global investment banking unit; and more in this week's banking news roundup.

The Ohio bank bought DTS Connex to expand its cash management services for businesses with multiple locations, like retailers, restaurants and health care providers.

Big banks with the strongest financial performance varied in asset size, geographies and services.

Each of the top-performing banks with more than $50 billion of assets used their own mix of revenue streams to drive performance.

As regional bank consolidation heats up, Comerica, First Horizon and Banc of California are among the institutions that analysts see as the most likely targets for takeovers.

Junk bonds made Michael Milken the most important and richest person on Wall Street. But they caused many large thrifts to fail. Had he listened to his professors and pursued his Ph.D. in 1970, his legacy might have been different.

Industry veteran Chris Ward has been tapped to lead the Canadian bank's new U.S. small-business banking department. "It's absolutely a growth opportunity," he said.

Jay Brogdon, currently president of the Arkansas bank, will take the helm at the beginning of next year.

The largest bank in Missouri, which completed the acquisition of Heartland Financial USA early this year, is on track to switch Heartland's systems over to UMB's systems in mid-October. The conversion should help realize "the next big slug" of expense savings, UMB's CFO said.