Practice management

Five years after the pandemic forced banks to switch to online annual meetings, shareholders are growing frustrated by the lack of in-person options. Some wonder if they'll ever again be in the same room as boards and management teams.

The Connecticut-based community bank announced a raft of new board and executive appointments, giving shape to a new strategy aimed at winning more business from high-net-worth individuals.

MainStreet Bancshares in Fairfax hopes investors will endorse its plan to refocus on basic community banking after shuttering its embedded banking unit. But a prominent shareholder is urging management to sell.

Bank professionals largely agree that the customer experience shapes the way work is performed within their organization. However, there are some issues that get in the way of a customer-centric approach.

Shareholder support for KeyCorp's executive compensation packages fell to 63% from 89% last year. Proxy advisory firms had recommended a "no" vote after the Cleveland-based bank made off-cycle awards to top executives.

The platform, which was built in-house, delivers $10 million in cost avoidance, with at least $35 million in potential savings from fewer complaints, executives said.

The CEO of JPMorganChase affirmed the case for bringing employees back to the office.

The Pennsylvania company spent the last five years adding lines of business, cleaning up its balance sheet and leveling up its technology. This year, Customers needs to churn out consistent earnings to prove that the investments were worth the costs.

Richmond, Virginia-based Atlantic Union is still integrating its recent acquisition of Sandy Spring Bank in Maryland. But CEO John Asbury has already begun plotting a new expansion course.

Tentative appointments at the Federal Deposit Insurance Corp. and the Federal Reserve have compliance officers reading the tea leaves for future policy plays.

The Dallas-based company's broker-dealer arm, Texas Capital Securities, has also made several recent hires as it continues to expand its capabilities.

Private equity-backed consolidators need platform uniformity to grow — but without sacrificing acquired RIAs' unique strengths.

While other European-based banks have retreated from the United States, Santander is doubling down by building out its nationwide digital-banking platform. "Unequivocally," said U.S. CEO Christiana Riley, "the opportunity … is so clear."

Truist, Texas Capital and Citizens Financial are among the banks that will be forced to address shareholder dissatisfaction over executive pay.

U.S. Bank and Wells Fargo attorneys say cyber governance is now a legal duty for corporate boards, not just a security staff issue.

As the banking-as-a-service model has evolved over the last decade amid widespread consent orders and BaaS partnership failures, the number of sponsor banks has dwindled, leaving fintechs to compete for the business of those that remain.

Citizens Financial Group's promotion of Brendan Coughlin to company president comes at the same time as CFO John Woods prepares to leave for State Street. Both executives have been viewed as potential successors to CEO Bruce Van Saun.