Industry News
Industry News
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Bank mergers and acquisitions have slowed in recent years amid recession fears and other economic uncertainties. But bank consolidation is a century-old trend that's expected to rev up again as early as this year due to higher costs, tougher regulation and fierce competition.
March 15 -
PNC announces a new head of corporate and institutional banking; Huntington hires JPMorgan exec to lead HR; former HSBC banker returns as the firm's new U.S. CEO; and more in the weekly banking news roundup.
March 15 -
The chair and CEO of the M&T division considers herself a "builder-fixer" and has sought out new challenges and opportunities throughout her more than 30-year career.
March 15 -
The Paris court of appeals ruled against Bernard Mourad, saying the bank's cash and shares incentive programs "sought to ensure his loyalty in the long term." The judges said they were distinct from his performance compensation — covered by his salary and discretionary bonus.
March 14 -
If former Treasury Secretary Steven Mnuchin follows through with a purchase of the controversial social media app, it will be the second high-profile deal he will have marshaled this year after leading a $1 billion equity investment in the troubled New York Community Bancorp.
March 14 -
Analysts estimate the probe, which remains unresolved, could lead to a fine of between $500 million and $1 billion, and Toronto-Dominion has already said it is spending hundreds of millions of dollars to improve its risk and control infrastructure.
March 13 -
Bank M&A activity has been in the doldrums in recent years, but a number of CEOs are predicting an increase in bank consolidation in 2024.
March 13 -
The stock prices of five of these banks fell by more than 7% on the day they announced their fourth-quarter results, including two with double-digit decreases.
March 12 -
The head of the U.S. Department of Housing and Urban Development under the Biden Administration said she will transition from public life starting March 22.
March 11 -
Sound Credit Union said it would acquire Washington Business Bank in a cash deal slated to close in the fourth quarter.
March 11 -
PayPal expands Tap to Pay for iPhone payments; BNY Mellon's securities services leader exits; FleetCor rebrands as Corpay; and more in this week's banking news roundup.
March 8 -
Klarna in January had appointed a new executive from the venerable venture fund Sequoia Capital to the board: Matthew Miller. Within weeks, though, Miller was looking to make governance changes and sought to oust Klarna's longtime chairman — and former Sequoia heavyweight — Michael Moritz.
March 7 -
As the head of enterprise technology and security, Guild tries to stay ahead of fraudsters and other bad actors.
March 6 -
Bill Demchak, in a panel hosted by Brookings on Tuesday, said that last year's bank failures wouldn't have happened if the Office of the Comptroller of the Currency had been the supervisor.
March 5 -
Berkshire Hills Bancorp declined to detail the savings it expects from the downsizing, though one analyst estimated it could shave $3 million from the company's annual noninterest expenses.
March 5 -
The calling off of the TD-First Horizon deal drew the most headlines, but 14 agreements involving the purchase of a bank were canceled last year.
March 5 -
The CEO of FirstBank in Colorado will retire at the end of the month, KeyCorp's chief accounting officer will depart, Fiserv pursues deal to buy Shift4 and more in the weekly banking news roundup.
March 1 -
Truist has made about 20 hires including bankers, traders, and sales personnel from Wells Fargo, Hilltop Securities and T. Rowe Price, to build up its muni team.
March 1 -
In this month's roundup of top banking news: The potential impact of Capital One's purchase of Discover, Citi's use of generative AI for its developers, the downfall of Heartland Tri-State Bank and more.
March 1 -
In this month's roundup of top tech news: Bank of America's data breach affects more than 57,000 consumers, banking as a service's looming reckoning, the downfall of Heartland Tri-State Bank and more.
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