Practice and client management

Strategic alliances are a viable avenue leading to risk reduction and higher profits — provided that bankers can learn to embrace them.

The world's largest credit union said that Dietrich Kuhlmann, a retired rear admiral and currently the institution's chief operating officer, would succeed retiring CEO Mary McDuffie on March 1.

The Pittsburgh company says its new president, Michael Lyons, will report to William Demchak, who will continue as chairman and chief executive. Lyons is positioned to become PNC's next CEO someday, observers said.

The Los Angeles-based bank said that it's eliminating roles across its footprint. The job cuts follow a year in which expenses soared and losses piled up.

After focusing on cost control throughout much of 2023, including a round of job cuts, the Pittsburgh company has announced plans to expand in high-growth markets like Texas and refurbish more than 1,200 existing offices.

The $4.4 billion-asset institution's 30-second commercial on Sunday sought to promote the idea of financial wellness as integral to "not-for-profit" banking and boost new member growth.

The online brokerage sees its popular talking babies ads as a way to get tens of millions of viewers to think about how they might put their money to better use.

Only a few dozen mortgage firms could likely afford the $7 million ad for this year's big game, a marketing veteran said.

The Providence, Rhode Island, company has recruited a head of wealth management advisors and a head of private wealth managers as part of a new strategy to reel in high-net worth clients.

Jeremy Kress, a law professor at the University of Michigan, filed a petition for rulemaking to two bank regulators, asking them to adopt an unaffiliated director standard for larger banks to address conflicts of interest between banks and their holding companies.