Practice and client management

The bank plans to separate the two roles “upon the next CEO transition,” it said in a proxy statement Monday.

In conversation with Patti Cook, CEO of Finance of America Companies

Citigroup agreed to sell its India retail banking business for about 123 billion rupees ($1.6 billion) cash to Axis Bank, as the U.S. lender seeks to consolidate its operations in identified markets.

Citizens Financial Group is mulling the acquisition of a wealth manager or even a lender in Florida following a deal spree by the bank last year, CEO Bruce Van Saun said.

The niche railcar leasing unit, which the North Carolina company inherited with its acquisition of CIT, may generate roughly 25% of the combined entity's noninterest income, executives said. They vowed to slow the sale of boxcars that had been underway at CIT.

The average Wall Street bonus increased 20% last year as a flurry of initial public offerings and higher underwriting fees boosted profitability across the industry. 

A new Securities and Exchange Commission proposal would require public companies to report climate-related risks across their value chain. That could be especially difficult if it means banks have to account for their borrowers' emissions.

Lynn Fuller, a onetime CEO of the Iowa company, called his ouster “retaliation” for publicly criticizing Heartland’s strategy. He had planned to step down as chairman in May.

Join Maggie Kimberl, President of the Bourbon Women Association for a peek behind the scenes of the bourbon industry. Learn more about the women that are rising in the male-dominated spirits sector, the proper bourbon tasting technique and a little bit of the history of bourbon.

Seven of the 10 largest merger agreements since 2012 have been struck in the last year and a half. Here's a look at how they stack up against each other.

The Vernon Hill-led bank is being buffeted by a board rebellion, a lawsuit and a burgeoning proxy fight all tied to the complaints of two investor groups that say their returns are subpar if not in the negative.

Peter Johnson, who has led the company since 2007, will be succeeded by Chief Financial Officer Laura Clark.

The Pennsylvania company said that Philip Wenger, who has been CEO since 2013, is stepping down on Jan. 1 and that Myers will succeed him.

Tim Hicks, the Arkansas company’s chief administrative officer, will succeed Greg McKinney as CFO in June. Meanwhile, Cindy Wolfe will be promoted to the newly created role of chief operating officer.

The San Francisco bank promoted its president, Mike Roffler, to the top job. He succeeds founder Jim Herbert, who has been on medical leave and now becomes executive chairman.

In a survey last month, only one in 10 chief executives identified mergers as their top priority, while 77% pointed to organic growth. The sparse interest in dealmaking may be due to volatile markets, along with slower approvals from regulators.

CEO Nitin Mhatre, who joined the Massachusetts bank in 2021, said that any M&A deal is at least a year away. For now, the bank is working with fintechs as a way to bolster its balance sheet and deliver exceptional customer experiences.

Gibbons, who became CEO of Bank of New York Mellon in 2019, is retiring on Aug. 31. Robin Vince, who leads the trust bank's global market infrastructure division, will be his successor.