Demographics

JPMorgan Chase’s Daniel Pinto is moving to New York City as he prepares to assume the role of sole president and chief operating officer at the biggest U.S. bank.

Goldman Sachs Group is awarding a special bonus to Chief Executive David Solomon just months after docking his pay for the bank’s role in a corruption scandal.

The move is one of several the company announced this week and appears to position Anthony Restel, the current chief operating officer, as a potential successor to CEO Bryan Jordan.

Chief Operating Officer Thomas Montag and Vice Chairman Anne Finucane will step down at the end of the year. The company said it will unveil succession plans in the coming weeks.

Finance that relies on smartphones and smart contracts can lower costs for banking services and promote financial inclusion, proponents say. But a look at who is using the technology tells a different story.

Fintechs and banks have stepped up their efforts to help so-called “credit invisibles” obtain credit through secured cards, specialized installment loans and use of alternative data in underwriting. Amid much progress, questions remain about how effective these tools really are.

Brian Gunn, who will join the Tokyo-based bank on next month, previously served as chief risk officer at Santander Holdings USA, Ally Financial and a GE Capital subsidiary.

Jamie Dimon said he’s unlikely to be running JPMorgan Chase in 10 years, but he does see himself staying for another five years.

Stored-value cards are growing in popularity with underbanked gig workers who need an easier way to get paid as well as with younger consumers in Canada who have traditional bank accounts but prefer the cards for e-commerce transactions.