Lazard posted a surprise loss for the first quarter and in April announced plans to reduce its workforce by 10% this year, predicting a slowdown in M&A advisory business will last through 2023.

James Gorman, who became CEO at the beginning of 2010, said early in the year that there are three finalists to take over when he leaves.

First Citizens, JPMorgan Chase and New York Community Bancorp all bought failing banks in 2023. Here's what experts say they and other acquirers should do to ensure the tech integration is smooth.

Under a tax-sharing agreement, the money will eventually be divided between the holding company and an FDIC receiver, who is overseeing the remnants of the failed bank.

As the window for averting a potential default narrows by the day and the amount of room the Treasury Department has under the statutory borrowing limit dwindles, markets are on edge.

Short interest as a percentage of shares outstanding in the SPDR S&P Regional Banking ETF rose to 92% from 74% a week ago, according to data compiled by S3 Partners, a technology and data-analytics firm.

As part of its receivership of Signature Bank, the agency was given the stock to sell by June 8.

Ripple buying a Swiss crypto-custody firm, Binance leaving Canada, and more.

In an earlier interview, Dimon said that JPMorgan had set up a "war room" looking at contingencies if the debt limit isn't increased in time.

Last year, just 31% of the bank's shareholders voted in favor of compensation packages for top executives. Support climbed to 89% this year after JPMorgan vowed not to make any more special one-time awards to Chairman and CEO Jamie Dimon.

Berkshire's move out of several financial stocks and into Capital One in the first quarter, detailed in a regulatory filing Monday, comes after CEO Warren Buffett said publicly he was cooling on the sector.

"The messaging from the Federal Reserve was that interest rates would remain low and that the inflation that was starting to bubble up would only be 'transitory,'" Greg Becker said.

Firms across every sector are struggling with higher interest costs — making it more challenging to refinance loans and bonds — while corporate executives are drawing more scrutiny from investors and creditors.

Silicon Valley Bank's failure in early March kicked off a period of turmoil unlike anything the U.S. banking industry has been through since 2008 and 2009. Here's a look back at the key events.

"You don't want to land the plane nose down. So we're trying to balance off — can we slow the inflation without sending it into a recession," the Chicago Fed president said.

If Congress fails to raise the debt limit, it will really impact the U.S.'s credit rating, Yellen warned.

Jay Champion had been chief executive of the $2.2 billion-asset company since late 2018.

While the central bank's reverse-repurchase facility generally works to stabilize the financial system, under certain circumstances it would spark a rapid flow of deposits out of banks. A growth cap would prevent that problem.

"I think it's going to get worse for banks — more regulations, more rules and more requirements,'' JPMorgan Chase CEO Jamie Dimon said in a Bloomberg Television interview from Paris on Thursday.

The warning from the state's chief financial officer comes after a new law was passed banning banks from holding public funds if they use social and political factors in lending decisions.