Practice and client management

Steve Brewer, who has been with the credit union for roughly 20 years as its chief financial officer, will take the helm on Nov. 1.

HSBC Holdings named Georges Elhedery as its new chief financial officer, setting up the bank's former markets boss as a potential front-runner to eventually replace CEO Noel Quinn.

CEO Rob Holmes says that much of the Dallas company's increased spending is now in the past. But meeting the bank's targets is "a complete show-me story," one analyst said.

Fidelity Investments is hiring an additional 100 people for its digital assets unit, stepping up an expansion that started in May and taking advantage of turmoil among crypto firms to lure talent. 

The Cincinnati bank reported strong growth from Dividend Finance, which offers renewable energy loans, and Provide, which lends money to health care professionals. The two units were bright spots as the company's net income dropped by 7.2%.

Linh Dang will step into the president and chief executive roles at floridacentral Credit Union on Nov. 1.

The Florida company is making progress after recent moves into Atlanta and Dallas, CEO Rajinder Singh said. Growth in Atlanta is meeting expectations, and the company is weighing lending options in Dallas, where it currently focuses on deposit-gathering.

The Cleveland bank expects to lose about $25 million in fee income per quarter as a result of recent changes to its overdraft policies. CEO Chris Gorman said Key plans to compensate by expanding its customer base.

Deutsche Bank laid off dozens of origination and advisory staffers within its investment banking division globally as fears of a recession stymie dealmaking, according to a person with knowledge with the matter.

HSBC Holdings has been reprimanded by a U.K. watchdog for violating environmental advertising rules, after it sought to depict itself as a green bank in a set of posters.

Rather than trying to reach the masses, which proved to be expensive, Goldman is focusing on marketing its online banking platform to its existing pool of wealth management clients. The investment bank has learned that it's "better to play to our strengths," CEO David Solomon said Tuesday.

Goldman Sachs Group's traders once again helped rescue results from a sharp slowdown in investment banking just as the firm prepares for a reorganization that will combine the two business units

Its investment banking and corporate lending revenues dipped during the third quarter, while treasury services and branded cards were bright spots. That formula will be tested by "rolling, country-level recessions" across the globe, CEO Jane Fraser predicts.

The San Francisco bank tallied $2.2 billion in net operating losses, higher than in any quarter since late 2017. The charges offset what otherwise would have been a strong third-quarter performance.

Mitsubishi UFJ Financial Group plans to accelerate lending to global funds and other institutional investors in the U.S., as it moves to overtake Goldman Sachs Group this year in loans syndicated in the world's biggest economy. 

Royal Bank of Canada expects to gain more market share in the U.K. wealth management business in the years ahead, with its technological capabilities key to attracting clients.

Behavioral finance is increasingly influencing how wealth managers serve their clients. How is the field evolving, and what are the freshest insights?

Some online banks are offering the highest rate on savings accounts only to new customers. The strategy could suppress deposit costs at a time when the Federal Reserve's aggressive rate increases have begun to put pressure on expenses.