Recruiting

Goldman Sachs Group, Morgan Stanley, JPMorgan Chase and Citigroup each reported a substantially larger workforce in the second quarter compared with a year earlier. Across the six biggest U.S. banks, the average gain in employment was 5.5% compared with mid-2021.

Goldman Sachs Group plans to slow hiring and reinstate annual performance reviews as the Wall Street bank looks to rein in expenses.

Bank of Montreal is raising the minimum wage for its U.S. branch and contact-center employees to $20 an hour, its second such pay bump in less than a year, as companies fight for workers in a tight labor market.

Robert Goscicki has stepped down as president and CEO of Area Federal Credit Union in Aberdeen.

Citadel Credit Union, armed with a team of professionals who previously worked at Santander Bank, plans to hold its own in a commercial lending market dominated by PNC Financial Services Group, Bank of America and Wells Fargo.

The bank’s current focus is on its Calgary innovation hub, where it’s looking to reach 300 employees by the end of next year.

Paul Taylor, one of the company's directors, will become president in anticipation of succeeding Matthew Wagner, who has been chief executive for 22 years and plans to retire at the end of 2023.

The lender’s minimum wage will rise to C$20 per hour in Canada and $20 in the U.S. in July, and the bank is committing to raise those figures to C$25 and $25 by the end of 2025, according to a statement from CEO Victor Dodig on Thursday.

Bank of Montreal hired Piyush Agrawal from Citigroup as chief risk officer to succeed Patrick Cronin, who’s stepping down later this year.

Canada’s banks expanded their workforces last quarter at the fastest pace in almost four years, braving a historically tight labor market to bolster their sales staffs and technology operations.